Stevens Capital Management LP Lowers Holdings in ConocoPhillips (NYSE:COP)

Key Points

• Stevens Capital Management LP significantly reduced its stake in ConocoPhillips by 57.1%, resulting in ownership of 4,305 shares, valued at approximately $452,000.
• Various institutional investors have increased their positions, with notable increases including Elevation Point Wealth Partners LLC by 83.0% and Schwartz Investment Counsel Inc. by 159.6%.
• ConocoPhillips declared a quarterly dividend of $0.78 per share, with an annualized yield of 3.29% and a payout ratio of 39.64%.

Stevens Capital Management LP decreased its position in ConocoPhillips (NYSE:COP - Free Report) by 57.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,305 shares of the energy producer's stock after selling 5,733 shares during the quarter. Stevens Capital Management LP's holdings in ConocoPhillips were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in ConocoPhillips by 83.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after acquiring an additional 8,189 shares during the period. Schwartz Investment Counsel Inc. boosted its holdings in ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after acquiring an additional 30,000 shares during the period. ORG Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after buying an additional 5,922 shares during the period. Finally, Hennessy Advisors Inc. lifted its holdings in shares of ConocoPhillips by 151.1% in the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after buying an additional 54,900 shares during the period. Institutional investors own 82.36% of the company's stock.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

NYSE COP traded down $1.13 during trading hours on Wednesday, reaching $96.86. The stock had a trading volume of 2,057,779 shares, compared to its average volume of 8,170,977. The stock has a fifty day moving average of $91.44 and a 200 day moving average of $94.28. The stock has a market cap of $122.45 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 2.53 and a beta of 0.61. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the firm earned $2.05 earnings per share. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.22%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COP. Mizuho lowered their target price on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Morgan Stanley reissued an "overweight" rating and issued a $119.00 price target on shares of ConocoPhillips in a research report on Tuesday, July 15th. Piper Sandler reissued an "overweight" rating and issued a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Finally, Bank of America reduced their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $121.33.

ConocoPhillips Company Profile

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.