Mraz Amerine & Associates Inc. Reduces Stock Position in ConocoPhillips (NYSE:COP)

Mraz Amerine & Associates Inc. reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,308 shares of the energy producer’s stock after selling 715 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in ConocoPhillips were worth $1,893,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Orion Capital Management LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC increased its holdings in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares during the period. RVW Wealth LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group increased its holdings in ConocoPhillips by 63.1% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after acquiring an additional 111 shares during the period. Finally, Fairfield Bush & CO. bought a new stake in ConocoPhillips during the 1st quarter worth approximately $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was 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 directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

Shares of COP stock traded down $1.22 during trading hours on Wednesday, reaching $128.31. The company had a trading volume of 3,869,708 shares, compared to its average volume of 5,478,735. The business has a fifty day moving average price of $119.60 and a 200-day moving average price of $116.93. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The firm has a market cap of $150.94 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 2.83 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the previous year, the business posted $2.71 earnings per share. Sell-side analysts predict that ConocoPhillips will post 9.21 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 annualized dividend and a yield of 2.43%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

Analyst Ratings Changes

A number of brokerages have recently commented on COP. Piper Sandler decreased their price target on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. UBS Group increased their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Mizuho reaffirmed a “neutral” rating and set a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Raymond James reduced their target price 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. Finally, Scotiabank increased their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $140.59.

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.