Savant Capital LLC Trims Stock Position in ConocoPhillips $COP

Key Points

• Savant Capital LLC cut its ConocoPhillips stake by 24.7% in Q4, selling 15,392 shares and leaving it with 46,990 shares worth about $4.4 million.
• ConocoPhillips reported Q1 earnings of $1.89 per share, topping estimates of $1.72, while revenue came in at $15.76 billion, slightly above forecasts but down 6.1% from a year earlier.
• The company declared a quarterly dividend of $0.84 per share, and analysts remain broadly positive with a Moderate Buy consensus and an average price target of $134.60.

Savant Capital LLC cut its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 24.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,990 shares of the energy producer's stock after selling 15,392 shares during the quarter. Savant Capital LLC's holdings in ConocoPhillips were worth $4,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in COP. Foundations Investment Advisors LLC increased its stake in ConocoPhillips by 64.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 21,179 shares of the energy producer's stock worth $1,983,000 after acquiring an additional 8,286 shares during the last quarter. Baker Avenue Asset Management LP increased its stake in ConocoPhillips by 2.1% during the fourth quarter. Baker Avenue Asset Management LP now owns 47,335 shares of the energy producer's stock worth $4,431,000 after acquiring an additional 974 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new stake in ConocoPhillips during the fourth quarter worth about $59,000. Community Bank & Trust Waco Texas increased its stake in ConocoPhillips by 4.6% during the fourth quarter. Community Bank & Trust Waco Texas now owns 19,207 shares of the energy producer's stock worth $1,798,000 after acquiring an additional 847 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC increased its stake in ConocoPhillips by 2.4% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 83,603 shares of the energy producer's stock worth $7,826,000 after acquiring an additional 1,985 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Kelly Brunetti Rose sold 7,700 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the sale, the senior vice president owned 25,284 shares in the company, valued at approximately $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares of the company's stock, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 734,891 shares of company stock valued at $93,345,692. Company insiders own 0.09% of the company's stock.

ConocoPhillips Price Performance

COP stock opened at $114.01 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $84.33 and a 1 year high of $135.87. The firm has a market cap of $138.90 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.28 and a beta of 0.14. The stock has a 50-day simple moving average of $123.09 and a 200-day simple moving average of $108.46.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the firm earned $2.09 earnings per share. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts predict that ConocoPhillips will post 9.92 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a $0.84 dividend. The ex-dividend date is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips's dividend payout ratio (DPR) is 57.05%.

Wall Street Analysts Forecast Growth

COP has been the subject of several research analyst reports. Wolfe Research upped their price target on ConocoPhillips from $138.00 to $144.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Mizuho upped their price target on ConocoPhillips from $136.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday. Susquehanna upped their price target on ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Truist Financial set a $128.00 price target on ConocoPhillips in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded ConocoPhillips from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $134.60.

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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