Kovack Advisors Inc. Sells 564 Shares of ConocoPhillips (NYSE:COP)

Kovack Advisors Inc. trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 23,241 shares of the energy producer’s stock after selling 564 shares during the period. Kovack Advisors Inc.’s holdings in ConocoPhillips were worth $2,698,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sloy Dahl & Holst LLC lifted its position in ConocoPhillips by 3.3% during the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after purchasing an additional 85 shares during the period. KLCM Advisors Inc. lifted its position in ConocoPhillips by 2.8% during the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after purchasing an additional 89 shares during the period. Evergreen Capital Management LLC lifted its position in ConocoPhillips by 0.5% during the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after purchasing an additional 89 shares during the period. Endowment Wealth Management Inc. lifted its position in ConocoPhillips by 4.6% during the third quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock worth $246,000 after purchasing an additional 90 shares during the period. Finally, Your Advocates Ltd. LLP lifted its position in ConocoPhillips by 2.9% during the third quarter. Your Advocates Ltd. LLP now owns 3,340 shares of the energy producer’s stock worth $400,000 after purchasing an additional 93 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 0.1 %

NYSE:COP traded up $0.12 on Friday, reaching $130.23. 4,822,904 shares of the stock traded hands, compared to its average volume of 5,349,431. The firm has a market capitalization of $153.20 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. The company’s 50 day moving average is $122.49 and its 200-day moving average is $117.64. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the prior year, the firm posted $2.71 EPS. Equities research analysts anticipate that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.40%. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Transactions at ConocoPhillips

In other news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock valued at $87,615,169 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays assumed coverage on shares of ConocoPhillips in a report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price for the company. UBS Group increased 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. Truist Financial dropped their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a report on Friday, April 5th. Scotiabank increased their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Mizuho reissued a “neutral” rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

About ConocoPhillips

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.