Geneva Partners LLC Reduces Stock Holdings in ConocoPhillips (NYSE:COP)

Geneva Partners LLC cut its holdings in ConocoPhillips (NYSE:COP) by 8.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,423 shares of the energy producer’s stock after selling 308 shares during the quarter. Geneva Partners LLC’s holdings in ConocoPhillips were worth $397,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley grew its position in ConocoPhillips by 26.6% during the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after purchasing an additional 3,497,750 shares during the last quarter. Northern Trust Corp lifted its position in ConocoPhillips by 3.2% during the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after acquiring an additional 386,276 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of ConocoPhillips by 10.6% in the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after purchasing an additional 1,152,907 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of ConocoPhillips by 98,832.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after purchasing an additional 8,575,696 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after purchasing an additional 659,632 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.2 %

Shares of NYSE COP traded up $1.58 during midday trading on Friday, hitting $129.39. The company’s stock had a trading volume of 3,984,322 shares, compared to its average volume of 5,434,193. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $135.18. The business’s fifty day simple moving average is $120.56 and its two-hundred day simple moving average is $117.17. The firm has a market capitalization of $152.22 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period last year, the business posted $2.71 earnings per share. On average, equities analysts predict that ConocoPhillips will post 9.35 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.41%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 700,775 shares of company stock valued at $87,615,169. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on COP shares. Mizuho reiterated a “neutral” rating and issued a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. UBS Group raised their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Raymond James decreased their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Scotiabank increased their price target on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.00.

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.