Bailard Inc. Cuts Stake in ConocoPhillips (NYSE:COP)

Bailard Inc. lowered its position in ConocoPhillips (NYSE:COP) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,630 shares of the energy producer’s stock after selling 318 shares during the quarter. Bailard Inc.’s holdings in ConocoPhillips were worth $21,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Alphinity Investment Management Pty Ltd bought a new stake in ConocoPhillips in the third quarter valued at approximately $310,102,000. Capital Wealth Planning LLC lifted its position in ConocoPhillips by 45,426.8% in the third quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock valued at $171,204,000 after purchasing an additional 1,425,946 shares during the last quarter. Bank of New York Mellon Corp lifted its position in ConocoPhillips by 10.6% in the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after purchasing an additional 1,152,907 shares during the last quarter. International Assets Investment Management LLC lifted its position in ConocoPhillips by 13,905.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock valued at $129,332,000 after purchasing an additional 1,106,305 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in ConocoPhillips in the third quarter valued at approximately $99,676,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of recent analyst reports. Barclays initiated coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price for the company. Mizuho restated 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. Scotiabank upped their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. UBS Group upped their target price on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Wells Fargo & Company upped their target price on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Stock Down 0.4 %

Shares of NYSE COP traded down $0.57 during trading on Wednesday, reaching $129.27. The company had a trading volume of 3,846,568 shares, compared to its average volume of 5,377,396. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18. The stock has a market cap of $152.07 billion, a PE ratio of 14.27, a P/E/G ratio of 2.73 and a beta of 1.24. The business’s 50-day moving average is $121.71 and its 200 day moving average is $117.49. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its 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. 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 firm posted $2.71 earnings per share. As a group, equities analysts forecast that ConocoPhillips will post 9.47 earnings per share for the current fiscal 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 is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insider Transactions at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 607,000 shares of the 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 sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’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 transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,775 shares of company stock valued at $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.