ConocoPhillips (NYSE:COP) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 34.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,317 shares of the energy producer’s stock after selling 13,143 shares during the period. Welch & Forbes LLC’s holdings in ConocoPhillips were worth $2,939,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Northern Trust Corp raised its position in shares of ConocoPhillips by 3.2% during the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock valued at $1,495,927,000 after buying an additional 386,276 shares during the period. Ameriprise Financial Inc. increased its position in shares of ConocoPhillips by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after purchasing an additional 659,632 shares during the last quarter. Fisher Asset Management LLC raised its holdings in ConocoPhillips by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after buying an additional 204,714 shares during the period. Lazard Asset Management LLC lifted its position in ConocoPhillips by 1.1% in the third quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock valued at $848,984,000 after buying an additional 74,278 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in ConocoPhillips by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,472,590 shares of the energy producer’s stock worth $775,416,000 after buying an additional 33,466 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the sale, the executive vice president now owns 14,522 shares of the company’s stock, valued at $1,836,161.68. 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. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP traded down $0.01 on Tuesday, reaching $123.54. 5,901,955 shares of the company’s stock traded hands, compared to its average volume of 5,368,249. ConocoPhillips has a 52-week low of $97.42 and a 52-week high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $124.31 and its two-hundred day simple moving average is $117.59. The stock has a market cap of $144.48 billion, a PE ratio of 13.99, a PEG ratio of 2.69 and a beta of 1.25.

ConocoPhillips (NYSE:COP) last announced its 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. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. During the same period in the previous year, the business earned $2.71 earnings per share. On average, analysts forecast that ConocoPhillips will post 9.1 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.53%. ConocoPhillips’s dividend payout ratio is 26.27%.

Analyst Upgrades and Downgrades

COP has been the topic of several recent analyst reports. Barclays began coverage on shares of ConocoPhillips in a report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective on the stock. Mizuho reaffirmed a “neutral” rating and set a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. UBS Group increased their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Scotiabank upped their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Susquehanna lifted their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.76.

About ConocoPhillips

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.