ConocoPhillips $COP Shares Sold by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC holds a $213.18 million stake in ConocoPhillips, having trimmed their position by 1.2% in the first quarter.
• ConocoPhillips reported $1.42 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue of $14.94 billion.
• Several analysts have adjusted their price targets for ConocoPhillips, with a consensus target of $120.95, indicating a moderate buy recommendation.

Hotchkis & Wiley Capital Management LLC lowered its holdings in ConocoPhillips (NYSE:COP - Free Report) by 1.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,029,848 shares of the energy producer's stock after selling 24,549 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.16% of ConocoPhillips worth $213,175,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. 10Elms LLP acquired a new position in ConocoPhillips during the 4th quarter worth approximately $28,000. Financial Network Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

COP stock traded up $0.91 on Wednesday, hitting $97.96. The company's stock had a trading volume of 5,759,451 shares, compared to its average volume of 8,061,621. The firm has a 50 day moving average of $93.89 and a two-hundred day moving average of $93.21. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The stock has a market cap of $122.34 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 2.57 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last announced 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 company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.98 EPS. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips's dividend payout ratio is 41.88%.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Melius assumed coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective for the company. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Piper Sandler boosted their price objective on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Raymond James Financial boosted their price objective on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.95.

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.