SCP Investment LP Sells 12,868 Shares of ConocoPhillips $COP

Key Points

• SCP Investment LP sharply reduced its ConocoPhillips stake in the fourth quarter, selling 12,868 shares and cutting its position by 82.1% to 2,800 shares worth about $262,000.
• ConocoPhillips reported better-than-expected first-quarter results, posting EPS of $1.89 versus the $1.72 consensus and revenue of $15.76 billion, while analysts still see full-year EPS of 9.92.
• The company also paid a $0.84 quarterly dividend, equal to an annualized $3.36 yield of 2.9%, and analysts currently rate the stock a Moderate Buy with an average price target of $134.48.

SCP Investment LP decreased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 82.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,800 shares of the energy producer's stock after selling 12,868 shares during the quarter. SCP Investment LP's holdings in ConocoPhillips were worth $262,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of ConocoPhillips by 18.2% during the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer's stock valued at $4,318,239,000 after acquiring an additional 7,037,873 shares in the last quarter. Primecap Management Co. CA increased its holdings in ConocoPhillips by 31.3% during the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer's stock worth $979,102,000 after purchasing an additional 2,467,555 shares during the period. Ameriprise Financial Inc. increased its holdings in ConocoPhillips by 20.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer's stock worth $1,228,886,000 after purchasing an additional 2,216,010 shares during the period. Alyeska Investment Group L.P. bought a new stake in ConocoPhillips during the 3rd quarter valued at $135,265,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of ConocoPhillips in the 4th quarter worth $128,470,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

COP opened at $116.78 on Wednesday. The firm has a market capitalization of $142.27 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The business's 50-day moving average is $122.88 and its two-hundred day moving average is $108.78. ConocoPhillips has a 1 year low of $85.23 and a 1 year high of $135.87.

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

ConocoPhillips Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on COP shares. Wall Street Zen raised ConocoPhillips from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Sanford C. Bernstein increased their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. BMO Capital Markets cut their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Morgan Stanley boosted their price target on shares of ConocoPhillips from $149.00 to $153.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. Finally, UBS Group increased their price objective on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Seventeen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $134.48.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 34,500 shares of ConocoPhillips stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the transaction, the senior vice president directly owned 17,469 shares of the company's stock, valued at approximately $2,090,689.92. The trade was a 66.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Heather G. Hrap sold 2,654 shares of the company's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $317,630.72. Following the transaction, the senior vice president directly owned 5,663 shares in the company, valued at approximately $677,747.84. The trade was a 31.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 734,891 shares of company stock valued at $93,345,692 over the last quarter. Insiders own 0.09% of the company's stock.

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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