ConocoPhillips $COP Shares Sold by Oxbow Advisors LLC

Key Points

• Oxbow Advisors LLC cut its ConocoPhillips stake by 55.2% in the fourth quarter, selling 91,936 shares and leaving it with 74,754 shares worth about $7.0 million.
• Insider selling has been heavy, with SVP Andrew D. Lundquist and EVP Nicholas G. Olds both reducing their holdings; over the last 90 days, insiders sold 734,891 shares valued at $93.3 million.
• ConocoPhillips reported better-than-expected Q1 results with EPS of $1.89 versus estimates of $1.72, and it also declared a quarterly dividend of $0.84 per share, yielding about 3.0% annualized.

Oxbow Advisors LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 55.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,754 shares of the energy producer's stock after selling 91,936 shares during the quarter. Oxbow Advisors LLC's holdings in ConocoPhillips were worth $6,998,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of COP. Cloud Capital Management LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in ConocoPhillips during the 3rd quarter worth about $28,000. Board of the Pension Protection Fund purchased a new stake in ConocoPhillips during the fourth quarter worth approximately $28,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Finally, Cedar Mountain Advisors LLC boosted its stake in ConocoPhillips by 58.0% in the third quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer's stock valued at $30,000 after acquiring an additional 116 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In other news, SVP Andrew D. Lundquist sold 34,500 shares of ConocoPhillips stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the sale, the senior vice president directly owned 17,469 shares of the company's stock, valued at approximately $2,090,689.92. The trade was a 66.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas G. Olds sold 6,994 shares of the business's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the transaction, the executive vice president owned 5,395 shares in the company, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by insiders.

ConocoPhillips Stock Down 1.0%

Shares of NYSE COP opened at $113.76 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $84.28 and a 12-month high of $135.87. The company has a market cap of $138.59 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.60 and a beta of 0.14. The stock has a fifty day moving average price of $122.69 and a 200 day moving average price of $105.12.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 EPS. Research analysts anticipate that ConocoPhillips will post 9.5 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips's dividend payout ratio is presently 57.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COP. Mizuho lifted their target price on shares of ConocoPhillips from $121.00 to $136.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. Susquehanna increased their target price on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of ConocoPhillips from $98.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, February 6th. BMO Capital Markets increased their target price on ConocoPhillips from $130.00 to $140.00 and gave the company an "outperform" rating in a report on Tuesday, April 7th. Finally, Raymond James Financial boosted their price objective on shares of ConocoPhillips from $118.00 to $145.00 and gave the company an "outperform" rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $133.04.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Norway approved ConocoPhillips’ plan to restart and redevelop long-idle oil and gas fields in the Greater Ekofisk area, a project expected to increase gas deliveries to Europe and benefit from stronger European energy security demand. Article: ConocoPhillips gets Norway's nod to restart fields, boost Europe gas supply
• Positive Sentiment: The company’s North Sea revival plan could unlock new gas volumes for Germany, the UK, and other European markets, reinforcing COP’s exposure to a potentially stronger gas pricing backdrop. Article: ConocoPhillips North Sea Revival Ties Undervalued Stock To European Gas Demand
• Neutral Sentiment: Investors are also parsing analyst questions from COP’s recent Q1 earnings call, suggesting the market is still focused on management’s guidance, capital plans, and the durability of the company’s earnings outlook. Article: The 5 most interesting analyst questions from ConocoPhillips’s Q1 earnings call
• Negative Sentiment: Freedom Capital downgraded ConocoPhillips from strong-buy to hold, which can weigh on sentiment and offset some of the optimism from the Norway project. Article: ConocoPhillips was downgraded by Freedom Capital from strong-buy to hold

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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