ConocoPhillips $COP Shares Sold by Parkside Investments LLC

Key Points

• Parkside Investments LLC cut its ConocoPhillips stake by 66.8% in the fourth quarter, selling 52,545 shares and leaving it with 26,116 shares worth about $2.45 million.
• Insider selling has also been notable: CEO Ryan Michael Lance and SVP Kelly Brunetti Rose both sold shares recently, and insiders sold 734,891 shares worth $93.35 million over the last quarter.
• ConocoPhillips reported better-than-expected Q1 earnings of $1.89 per share and announced a quarterly dividend of $0.84 per share, while analysts currently view the stock as a Moderate Buy with a consensus target price of $133.28.

Parkside Investments LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 66.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,116 shares of the energy producer's stock after selling 52,545 shares during the period. Parkside Investments LLC's holdings in ConocoPhillips were worth $2,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COP. AXA S.A. increased its position in ConocoPhillips by 91.1% during the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer's stock worth $7,622,000 after purchasing an additional 40,499 shares during the period. Sei Investments Co. increased its position in ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer's stock worth $70,397,000 after purchasing an additional 44,852 shares during the period. BNP Paribas acquired a new position in ConocoPhillips during the 2nd quarter worth approximately $33,000. Osterweis Capital Management Inc. acquired a new position in ConocoPhillips during the 2nd quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC increased its position in ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer's stock worth $431,000 after purchasing an additional 1,675 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Transactions at ConocoPhillips

In related news, SVP Kelly Brunetti Rose sold 7,700 shares of the company's stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the sale, the senior vice president owned 25,284 shares of the company's stock, valued at approximately $3,287,678.52. This represents a 23.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Michael Lance sold 113,221 shares of the company'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 sale, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. The trade was a 24.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 734,891 shares of company stock worth $93,345,692 in the last quarter. Insiders own 0.09% of the company's stock.

ConocoPhillips Stock Performance

COP opened at $120.48 on Tuesday. The stock has a market cap of $146.78 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.39 and a beta of 0.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock's 50 day simple moving average is $123.68 and its 200 day simple moving average is $107.82. ConocoPhillips has a 1-year low of $84.28 and a 1-year high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the company earned $2.09 EPS. ConocoPhillips's revenue was down 6.1% on a year-over-year basis. As a group, equities analysts anticipate that ConocoPhillips will post 9.92 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 2.8%. ConocoPhillips's dividend payout ratio is presently 57.05%.

Analysts Set New Price Targets

Several equities analysts have issued reports on COP shares. Sanford C. Bernstein boosted their target price on ConocoPhillips from $98.00 to $121.00 and gave the stock an "outperform" rating in a research report on Monday, April 13th. JPMorgan Chase & Co. upped their price target on ConocoPhillips from $98.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. Jefferies Financial Group upped their price target on ConocoPhillips from $160.00 to $161.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Raymond James Financial upped their price target on ConocoPhillips from $118.00 to $145.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Finally, Piper Sandler upped their price target on ConocoPhillips from $154.00 to $157.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $133.28.

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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