Headlands Technologies LLC Reduces Stock Holdings in ConocoPhillips (NYSE:COP)

Key Points

• Headlands Technologies LLC has significantly decreased its stake in ConocoPhillips, reducing its holdings by 61.0% in the first quarter, leaving it with 28,213 shares worth approximately $2.96 million.
• Several financial institutions, including 10Elms LLP and Garde Capital Inc., have recently initiated new positions in ConocoPhillips, indicating a broad interest from institutional investors in the stock.
• Analysts are maintaining a positive outlook on ConocoPhillips, with fifteen analysts giving it a "buy" rating and an average price target of $121.33.

Headlands Technologies LLC cut its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 61.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,213 shares of the energy producer's stock after selling 44,107 shares during the period. Headlands Technologies LLC's holdings in ConocoPhillips were worth $2,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 10Elms LLP purchased a new position in ConocoPhillips in the fourth quarter valued at $28,000. Garde Capital Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter valued at about $35,000. IMA Advisory Services Inc. acquired a new position in ConocoPhillips in the 1st quarter worth about $37,000. Fourth Dimension Wealth LLC purchased a new position in ConocoPhillips during the fourth quarter worth approximately $39,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in ConocoPhillips in the first quarter valued at approximately $42,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COP. Scotiabank upped their target price on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Citigroup reduced their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Mizuho dropped their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. UBS Group boosted their target price on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $119.00 price target on shares of ConocoPhillips in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.33.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the company's stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost 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 of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Trading Up 0.1%

COP opened at $93.29 on Thursday. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The business's 50 day moving average price is $92.45 and its 200 day moving average price is $93.89. The stock has a market capitalization of $117.93 billion, a PE ratio of 11.85, a P/E/G ratio of 2.43 and a beta of 0.67. 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 posted 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 company had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter in the prior year, the company posted $2.05 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 3.3%. ConocoPhillips's payout ratio is presently 39.64%.

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.

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