ConocoPhillips $COP Shares Sold by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers LLC trimmed its ConocoPhillips stake by 7.9%, selling 15,256 shares and leaving the firm with 178,346 shares valued at about $16.7 million.
• Heavy insider and institutional activity: insiders sold 734,891 shares worth $93.35 million over the last quarter (including Director Timothy Leach and EVP Nicholas Olds), while institutions own 82.36% of COP and several large funds materially increased positions.
• Recent results and payout: ConocoPhillips missed Q4 estimates with $1.02 EPS versus $1.23 expected and $13.86B revenue, and it pays a $0.84 quarterly dividend (annualized $3.36, ~2.7% yield); analysts have an average "Moderate Buy" rating with a $132.44 consensus target.

Wealthfront Advisers LLC lowered its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 178,346 shares of the energy producer's stock after selling 15,256 shares during the quarter. Wealthfront Advisers LLC's holdings in ConocoPhillips were worth $16,695,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Capital International Investors raised its stake in shares of ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer's stock valued at $4,318,239,000 after buying an additional 7,037,873 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of ConocoPhillips by 31.3% during the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer's stock valued at $979,102,000 after buying an additional 2,467,555 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of ConocoPhillips by 20.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer's stock valued at $1,228,886,000 after buying an additional 2,216,010 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at about $135,265,000. Finally, SG Americas Securities LLC raised its stake in shares of ConocoPhillips by 505.9% during the 4th quarter. SG Americas Securities LLC now owns 589,980 shares of the energy producer's stock valued at $55,228,000 after buying an additional 735,319 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 40,000 shares of ConocoPhillips stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $118.79, for a total value of $4,751,600.00. Following the completion of the transaction, the director owned 411,211 shares in the company, valued at $48,847,754.69. The trade was a 8.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas G. Olds sold 14,522 shares of ConocoPhillips stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $119.36, for a total value of $1,733,345.92. Following the completion of the transaction, the executive vice president owned 12,389 shares of the company's stock, valued at approximately $1,478,751.04. This represents a 53.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 734,891 shares of company stock worth $93,345,692 over the last quarter. Company insiders own 0.09% of the company's stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $124.25 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $84.28 and a twelve month high of $135.87. The business has a 50-day moving average price of $121.53 and a 200 day moving average price of $103.90. The firm has a market cap of $151.44 billion, a PE ratio of 19.60, a P/E/G ratio of 2.14 and a beta of 0.19.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.21). ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The business had revenue of $13.86 billion during the quarter, compared to analysts' expectations of $14.35 billion. During the same quarter in the prior year, the firm earned $1.98 EPS. ConocoPhillips's revenue for the quarter was down 3.7% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 7.97 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Wednesday, February 18th. ConocoPhillips's payout ratio is currently 53.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on COP shares. Sanford C. Bernstein lifted their price objective on ConocoPhillips from $98.00 to $121.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. Bank of America reiterated an "underperform" rating and set a $102.00 price objective on shares of ConocoPhillips in a research note on Friday, January 16th. Zacks Research upgraded ConocoPhillips from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. Capital One Financial lifted their price objective on ConocoPhillips from $116.00 to $156.00 and gave the company an "equal weight" rating in a research note on Thursday, March 26th. Finally, Wolfe Research lifted their price objective on ConocoPhillips from $138.00 to $144.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus price target of $132.44.

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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