Sapient Capital LLC Cuts Stock Holdings in ConocoPhillips (NYSE:COP)

Sapient Capital LLC trimmed its position in shares of ConocoPhillips (NYSE:COP) by 12.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,474 shares of the energy producer’s stock after selling 766 shares during the quarter. Sapient Capital LLC’s holdings in ConocoPhillips were worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Wendell David Associates Inc. boosted its holdings in ConocoPhillips by 5.4% during the 1st quarter. Wendell David Associates Inc. now owns 4,377 shares of the energy producer’s stock worth $557,000 after acquiring an additional 226 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of ConocoPhillips by 39.6% in the 1st quarter. Strategic Financial Concepts LLC now owns 3,644 shares of the energy producer’s stock worth $464,000 after buying an additional 1,033 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in shares of ConocoPhillips by 0.5% in the 1st quarter. Confluence Wealth Services Inc. now owns 22,479 shares of the energy producer’s stock worth $2,861,000 after buying an additional 101 shares during the last quarter. Byrne Asset Management LLC boosted its holdings in shares of ConocoPhillips by 2.0% in the 1st quarter. Byrne Asset Management LLC now owns 11,843 shares of the energy producer’s stock worth $1,507,000 after buying an additional 230 shares during the last quarter. Finally, HF Advisory Group LLC boosted its holdings in shares of ConocoPhillips by 18.8% in the 1st quarter. HF Advisory Group LLC now owns 9,545 shares of the energy producer’s stock worth $1,215,000 after buying an additional 1,512 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho reissued a “neutral” rating and issued a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Susquehanna boosted their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Raymond James cut their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. UBS Group upped their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Piper Sandler upped their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. 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 company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $142.65.

ConocoPhillips Price Performance

Shares of COP traded down $4.60 during midday trading on Tuesday, hitting $125.62. 6,288,234 shares of the company traded hands, compared to its average volume of 5,343,554. The stock has a 50-day moving average of $123.20 and a 200-day moving average of $117.67. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The firm has a market cap of $147.78 billion, a P/E ratio of 13.87, a PEG ratio of 2.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the prior year, the business posted $2.71 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.48%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is 25.61%.

Insider Buying and Selling

In related news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,775 shares of company stock worth $87,615,169. Insiders own 0.34% of the company’s stock.

ConocoPhillips Company 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.