Flputnam Investment Management Co. Sells 5,935 Shares of ConocoPhillips $COP

Key Points

• Flputnam Investment Management Co. reduced its holdings in ConocoPhillips by 29.0% during Q1, selling 5,935 shares and retaining 14,512 shares valued at approximately $1,524,000.
• Insider activity included Kirk L. Johnson, EVP of ConocoPhillips, acquiring 5,300 shares at an average price of $94.24 each, increasing his ownership by 57.44%.
• Analysts have a mixed outlook, with most rating ConocoPhillips as a “Moderate Buy” and setting an average price target of $120.95, while recent earnings outperformed expectations with $1.42 EPS.

Flputnam Investment Management Co. cut its holdings in ConocoPhillips (NYSE:COP - Free Report) by 29.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,512 shares of the energy producer's stock after selling 5,935 shares during the period. Flputnam Investment Management Co.'s holdings in ConocoPhillips were worth $1,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. 10Elms LLP purchased a new position in ConocoPhillips during the fourth quarter valued at $28,000. Financial Network Wealth Advisors LLC lifted its position in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new position in ConocoPhillips during the first quarter valued at $31,000. Garde Capital Inc. purchased a new position in ConocoPhillips during the first quarter valued at $35,000. Finally, IMA Advisory Services Inc. purchased a new position in ConocoPhillips during the first quarter valued at $37,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded down $2.80 during trading on Friday, reaching $92.97. 8,509,766 shares of the stock traded hands, compared to its average volume of 6,179,341. The company has a market capitalization of $116.12 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 2.43 and a beta of 0.69. The business has a fifty day simple moving average of $94.76 and a two-hundred day simple moving average of $93.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 earnings per share. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. ConocoPhillips's dividend payout ratio (DPR) is presently 41.88%.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on COP. Morgan Stanley reiterated an "overweight" rating and set a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Wells Fargo & Company reiterated 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. Wall Street Zen cut ConocoPhillips from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Piper Sandler raised their price target on ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Susquehanna decreased their price target on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and an average target price of $120.95.

ConocoPhillips 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.