AMF Tjanstepension AB Sells 185,416 Shares of ConocoPhillips $COP

Key Points

• AMF Tjanstepension AB reduced its ConocoPhillips stake by 14.5% in the fourth quarter, selling 185,416 shares and leaving it with 1,097,591 shares valued at about $102.7 million.
• Several institutional investors and insiders also adjusted their positions, with insiders selling 734,891 shares over the last three months and institutions still holding 82.36% of the stock.
• ConocoPhillips reported better-than-expected quarterly earnings of $1.89 per share and announced a quarterly dividend of $0.84 per share, while analysts currently rate the stock a consensus Moderate Buy with a target price of $133.12.

AMF Tjanstepension AB cut its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,097,591 shares of the energy producer's stock after selling 185,416 shares during the quarter. AMF Tjanstepension AB owned about 0.09% of ConocoPhillips worth $102,745,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Capital International Investors increased its holdings in shares of ConocoPhillips by 18.2% during the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer's stock valued at $4,318,239,000 after acquiring an additional 7,037,873 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of ConocoPhillips by 31.3% during the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer's stock valued at $979,102,000 after acquiring an additional 2,467,555 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in ConocoPhillips by 20.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer's stock worth $1,228,886,000 after buying an additional 2,216,010 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in ConocoPhillips in the 3rd quarter worth about $135,265,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in ConocoPhillips by 255.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,857,206 shares of the energy producer's stock worth $173,853,000 after buying an additional 1,334,687 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 40,000 shares of ConocoPhillips stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the transaction, the director directly owned 411,211 shares of the company's stock, valued at $48,847,754.69. The trade was a 8.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kelly Brunetti Rose sold 8,500 shares of ConocoPhillips stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $118.04, for a total value of $1,003,340.00. Following the transaction, the senior vice president directly owned 32,984 shares in the company, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by company insiders.

ConocoPhillips Trading Up 1.6%

Shares of NYSE:COP opened at $124.39 on Tuesday. The stock has a market capitalization of $151.54 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.41 and a beta of 0.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock's 50-day simple moving average is $123.21 and its two-hundred day simple moving average is $106.64. ConocoPhillips has a 52-week low of $84.28 and a 52-week high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analysts' expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the firm posted $2.09 earnings per share. Analysts expect that ConocoPhillips will post 9.66 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips's dividend payout ratio (DPR) is presently 57.05%.

Wall Street Analyst Weigh In

Several research firms recently commented on COP. Piper Sandler lifted their price objective on ConocoPhillips from $154.00 to $157.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Royal Bank Of Canada lifted their price objective on ConocoPhillips from $118.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $132.00 to $133.00 and gave the stock an "overweight" rating in a report on Friday, February 6th. JPMorgan Chase & Co. lifted their price objective on ConocoPhillips from $98.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. Finally, Roth Mkm downgraded ConocoPhillips from a "buy" rating to a "neutral" rating and set a $112.00 price objective for the company. in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.12.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 30-year gas sales precedent agreement with Glenfarne Alaska LNG to supply North Slope natural gas for Phase One of the Alaska LNG project, strengthening the company’s long-term volume outlook and signaling progress toward a final investment decision. Reuters: Alaska LNG secures supply deal with ConocoPhillips for pipeline project
• Positive Sentiment: The Alaska LNG announcement was echoed by multiple reports, reinforcing investor optimism that ConocoPhillips is helping advance a major infrastructure project that could support future gas monetization and regional energy demand. Yahoo Finance: Glenfarne, ConocoPhillips Sign North Slope Gas Sales Precedent Agreement for Alaska LNG
• Positive Sentiment: Jefferies raised its price target on ConocoPhillips to $161 from $160 and kept a Buy rating, suggesting continued upside expectations from current levels. MarketScreener: Jefferies adjusts price target on ConocoPhillips
• Neutral Sentiment: Capital One Financial trimmed its price target slightly to $154 from $156 while maintaining an Equal Weight rating, a modestly less bullish read but not a major negative for the stock. MarketScreener: Capital One adjusts price target on ConocoPhillips
• Neutral Sentiment: Broader commentary on oil prices and options trading pointed to a supportive crude backdrop for COP, but this was more of a market/strategy note than a company-specific fundamental update. Barchart: ConocoPhillips Put Options Look Attractive to Short Sellers as Oil Rises

ConocoPhillips Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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