Fernwood Investment Management LLC Sells 245 Shares of ConocoPhillips (NYSE:COP)

Fernwood Investment Management LLC trimmed its position in ConocoPhillips (NYSE:COP) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,966 shares of the energy producer’s stock after selling 245 shares during the quarter. Fernwood Investment Management LLC’s holdings in ConocoPhillips were worth $1,621,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Sloy Dahl & Holst LLC increased its position in ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after buying an additional 85 shares during the last quarter. KLCM Advisors Inc. increased its position in ConocoPhillips by 2.8% in the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after buying an additional 89 shares during the last quarter. Evergreen Capital Management LLC increased its position in ConocoPhillips by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after buying an additional 89 shares during the last quarter. Endowment Wealth Management Inc. increased its position in ConocoPhillips by 4.6% in the third quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock worth $246,000 after buying an additional 90 shares during the last quarter. Finally, Your Advocates Ltd. LLP increased its position in ConocoPhillips by 2.9% in the third quarter. Your Advocates Ltd. LLP now owns 3,340 shares of the energy producer’s stock worth $400,000 after buying an additional 93 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 700,775 shares of company stock valued at $87,615,169. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on COP shares. Susquehanna raised their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Truist Financial reduced their price target on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Monday. Scotiabank lifted their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Wells Fargo & Company lifted their price target on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Finally, Barclays initiated coverage on ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target for the company. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.65.

ConocoPhillips Price Performance

COP stock traded down $0.02 during mid-day trading on Monday, hitting $130.22. 3,914,108 shares of the stock were exchanged, compared to its average volume of 5,331,923. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The business has a fifty day moving average price of $122.49 and a 200 day moving average price of $117.60. ConocoPhillips has a 12 month low of $95.70 and a 12 month high of $135.18. The stock has a market capitalization of $153.19 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 2.72 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 25.61%.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.