Royal Fund Management LLC Boosts Stake in ConocoPhillips (NYSE:COP)

Royal Fund Management LLC boosted its stake in ConocoPhillips (NYSE:COP) by 7.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,144 shares of the energy producer’s stock after buying an additional 227 shares during the quarter. Royal Fund Management LLC’s holdings in ConocoPhillips were worth $365,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at $27,000. West Branch Capital LLC boosted its position in ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its position in ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after buying an additional 111 shares during the last quarter. Spartan Planning & Wealth Management purchased a new position in ConocoPhillips in the 3rd quarter valued at about $40,000. Finally, Nemes Rush Group LLC boosted its position in ConocoPhillips by 163.9% in the 3rd quarter. Nemes Rush Group LLC now owns 380 shares of the energy producer’s stock valued at $46,000 after buying an additional 236 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Dominic E. Macklon sold 23,372 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total transaction of $2,621,637.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Christopher P. Delk sold 8,505 shares of the firm’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 transaction of $953,070.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $0.02 during trading hours on Friday, hitting $122.23. The stock had a trading volume of 5,020,657 shares, compared to its average volume of 4,434,834. The stock’s fifty day simple moving average is $123.85 and its 200 day simple moving average is $117.73. ConocoPhillips has a 1-year low of $95.81 and a 1-year high of $135.18. The firm has a market capitalization of $143.79 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.29 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same quarter last year, the business earned $2.71 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 9.11 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a $0.78 dividend. The ex-dividend date is Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.55%. ConocoPhillips’s payout ratio is currently 26.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler increased their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Barclays assumed coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target on the stock. Susquehanna increased their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Scotiabank increased their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company increased their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.76.

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.