Baugh & Associates LLC Sells 10,202 Shares of ConocoPhillips $COP

Key Points

• Baugh & Associates LLC reduced its ConocoPhillips stake by 18.4% in the first quarter, selling 10,202 shares and leaving it with 45,205 shares valued at about $5.97 million.
• ConocoPhillips posted stronger-than-expected quarterly results, with EPS of $1.89 beating estimates and revenue of $15.76 billion also topping forecasts, though revenue declined 6.1% year over year.
• Wall Street remains broadly positive on COP, with 18 Buy ratings and a consensus “Moderate Buy” target price of $135.20, while the company also pays a quarterly dividend of $0.84 per share for a 3.1% yield.

Baugh & Associates LLC cut its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 18.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,205 shares of the energy producer's stock after selling 10,202 shares during the quarter. ConocoPhillips makes up about 2.6% of Baugh & Associates LLC's holdings, making the stock its 19th biggest position. Baugh & Associates LLC's holdings in ConocoPhillips were worth $5,967,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nicolet Advisory Services LLC boosted its stake in shares of ConocoPhillips by 0.9% in the 4th quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer's stock worth $989,000 after buying an additional 95 shares during the last quarter. Duncan Williams Asset Management LLC lifted its holdings in ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer's stock worth $222,000 after acquiring an additional 100 shares during the period. Wedge Capital Management L L P NC boosted its position in ConocoPhillips by 4.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer's stock worth $241,000 after purchasing an additional 101 shares during the last quarter. Strategic Blueprint LLC boosted its position in ConocoPhillips by 1.3% in the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer's stock worth $751,000 after purchasing an additional 101 shares during the last quarter. Finally, Chesapeake Wealth Management grew its stake in ConocoPhillips by 1.5% in the 4th quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer's stock valued at $670,000 after purchasing an additional 103 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 0.2%

Shares of ConocoPhillips stock opened at $107.92 on Monday. The stock has a market capitalization of $131.48 billion, a P/E ratio of 18.32, a P/E/G ratio of 1.19 and a beta of 0.11. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. 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 $118.65 and its 200 day simple moving average is $111.39.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business earned $2.09 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips's dividend payout ratio is presently 57.05%.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 113,221 shares of the firm's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the transaction, the chief executive officer directly owned 350,000 shares of the company's stock, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the transaction, the senior vice president owned 25,284 shares of the company's stock, valued at $3,287,678.52. This represents a 23.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on COP. Citigroup raised their target price on ConocoPhillips from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Scotiabank boosted their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Mizuho increased their price target on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Wolfe Research raised their price objective on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Finally, Argus lifted their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.20.

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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