ConocoPhillips $COP Shares Sold by Securian Asset Management Inc.

Key Points

• Securian Asset Management cut its ConocoPhillips stake by 44.3% in the fourth quarter, leaving it with 33,601 shares worth about $3.15 million.
• ConocoPhillips recently beat earnings expectations, reporting $1.89 EPS versus the $1.72 consensus and revenue of $15.76 billion versus estimates of $15.62 billion, while also declaring a quarterly dividend of $0.84 per share.
• The stock has mixed sentiment: Norway approved a project to restart and redevelop idle North Sea fields that could boost European gas supply, but Freedom Capital downgraded COP to hold from strong-buy.

Securian Asset Management Inc. reduced its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 44.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,601 shares of the energy producer's stock after selling 26,715 shares during the period. Securian Asset Management Inc.'s holdings in ConocoPhillips were worth $3,145,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Cloud Capital Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in ConocoPhillips during the 3rd quarter worth about $28,000. Board of the Pension Protection Fund acquired a new stake in ConocoPhillips during the 4th quarter worth about $28,000. Strive Asset Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth about $28,000. Finally, Cedar Mountain Advisors LLC raised its holdings in ConocoPhillips by 58.0% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer's stock worth $30,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

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

Insiders Place Their Bets

In related news, EVP Nicholas G. Olds sold 6,994 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. The trade was a 56.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew D. Lundquist sold 34,500 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $4,128,960.00. Following the completion of the sale, the senior vice president owned 17,469 shares of the company's stock, valued at approximately $2,090,689.92. This trade represents a 66.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 734,891 shares of company stock worth $93,345,692 in the last quarter. Corporate insiders own 0.09% of the company's stock.

ConocoPhillips Trading Down 0.1%

Shares of NYSE COP opened at $113.76 on Monday. The stock has a market cap of $138.59 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.60 and a beta of 0.14. The business has a 50 day simple moving average of $122.69 and a 200 day simple moving average of $105.12. ConocoPhillips has a 52 week low of $84.28 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.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during 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 firm's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.09 EPS. On average, research analysts predict that ConocoPhillips will post 9.5 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 3.0%. ConocoPhillips's payout ratio is presently 57.05%.

Wall Street Analyst Weigh In

Several analysts have issued reports on COP shares. Sanford C. Bernstein boosted their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. Raymond James Financial lifted their target price on ConocoPhillips from $118.00 to $145.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Truist Financial set a $128.00 target price on ConocoPhillips in a research note on Friday, May 1st. Jefferies Financial Group lifted their target price on ConocoPhillips from $129.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Finally, Wolfe Research lifted their target price on ConocoPhillips from $138.00 to $144.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $133.04.

About ConocoPhillips

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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