ConocoPhillips (NYSE:COP) Shares Sold by Concord Asset Management LLC VA

Concord Asset Management LLC VA reduced its holdings in ConocoPhillips (NYSE:COP - Free Report) by 10.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,548 shares of the energy producer's stock after selling 3,903 shares during the quarter. Concord Asset Management LLC VA's holdings in ConocoPhillips were worth $3,418,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of COP. Proficio Capital Partners LLC lifted its holdings in shares of ConocoPhillips by 21.3% in the 4th quarter. Proficio Capital Partners LLC now owns 14,733 shares of the energy producer's stock valued at $1,461,000 after buying an additional 2,591 shares during the period. Greenwich Wealth Management LLC increased its stake in ConocoPhillips by 21.3% in the 4th quarter. Greenwich Wealth Management LLC now owns 2,598 shares of the energy producer's stock valued at $258,000 after purchasing an additional 457 shares in the last quarter. Corient Private Wealth LLC increased its stake in ConocoPhillips by 0.4% in the 4th quarter. Corient Private Wealth LLC now owns 726,315 shares of the energy producer's stock valued at $68,645,000 after purchasing an additional 3,077 shares in the last quarter. Harbour Investments Inc. increased its stake in ConocoPhillips by 26.6% in the 4th quarter. Harbour Investments Inc. now owns 16,632 shares of the energy producer's stock valued at $1,649,000 after purchasing an additional 3,491 shares in the last quarter. Finally, Glenview Trust co increased its stake in ConocoPhillips by 3.8% in the 4th quarter. Glenview Trust co now owns 22,905 shares of the energy producer's stock valued at $2,271,000 after purchasing an additional 840 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.24% of the stock is owned by company insiders.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $1.22 during mid-day trading on Friday, hitting $91.59. 5,490,165 shares of the company were exchanged, compared to its average volume of 7,631,332. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The business's 50 day simple moving average is $90.97 and its two-hundred day simple moving average is $94.66. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The company has a market capitalization of $115.79 billion, a P/E ratio of 11.65, a PEG ratio of 2.45 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The business had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter last year, the firm earned $2.05 earnings per share. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COP. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday. Bank of America dropped their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Barclays dropped their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, UBS Group raised their price objective on ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $122.21.

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.