Teza Capital Management LLC Has $404,000 Stock Position in ConocoPhillips $COP

Key Points

• Teza Capital Management LLC reduced its position in ConocoPhillips by 95.1% in the first quarter, selling over 74,000 shares and now owning only 3,847 shares.
• ConocoPhillips reported a quarterly EPS of $1.42, exceeding analyst expectations, with revenue reaching $14.94 billion, a 4.3% increase year-over-year.
• The company declared a quarterly dividend of $0.78 per share, which implies an annualized yield of 3.4% based on a payout ratio of 41.88%.

Teza Capital Management LLC trimmed its stake in ConocoPhillips (NYSE:COP - Free Report) by 95.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,847 shares of the energy producer's stock after selling 74,253 shares during the period. Teza Capital Management LLC's holdings in ConocoPhillips were worth $404,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. UniSuper Management Pty Ltd grew its position in shares of ConocoPhillips by 5.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 84,958 shares of the energy producer's stock valued at $8,922,000 after buying an additional 4,400 shares during the last quarter. Richwood Investment Advisors LLC boosted its stake in ConocoPhillips by 4.1% during the 1st quarter. Richwood Investment Advisors LLC now owns 5,349 shares of the energy producer's stock worth $562,000 after purchasing an additional 213 shares during the period. Ruggaard & Associates LLC boosted its stake in ConocoPhillips by 1.5% during the 1st quarter. Ruggaard & Associates LLC now owns 12,962 shares of the energy producer's stock worth $1,361,000 after purchasing an additional 190 shares during the period. Permanens Capital L.P. boosted its stake in ConocoPhillips by 40.7% during the 1st quarter. Permanens Capital L.P. now owns 16,730 shares of the energy producer's stock worth $1,757,000 after purchasing an additional 4,838 shares during the period. Finally, Plancorp LLC lifted its stake in shares of ConocoPhillips by 13.8% in the 1st quarter. Plancorp LLC now owns 4,574 shares of the energy producer's stock worth $480,000 after acquiring an additional 556 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 1.4%

Shares of ConocoPhillips stock traded down $1.32 during trading on Friday, hitting $92.81. The stock had a trading volume of 2,690,039 shares, compared to its average volume of 7,926,109. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $115.91 billion, a PE ratio of 12.46, a P/E/G ratio of 2.48 and a beta of 0.69. The stock has a 50 day simple moving average of $94.78 and a 200 day simple moving average of $93.01.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm's revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 earnings per share. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.4%. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Susquehanna reduced their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Bank of America lowered their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Wells Fargo & Company reissued an "overweight" rating and set a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Citigroup dropped their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Finally, Piper Sandler lifted their price target on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price of $120.86.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company's stock.

About ConocoPhillips

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.