ConocoPhillips (NYSE:COP) Shares Sold by Argyle Capital Management Inc.

Argyle Capital Management Inc. trimmed its position in shares of ConocoPhillips (NYSE:COP) by 17.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,681 shares of the energy producer’s stock after selling 7,750 shares during the period. ConocoPhillips accounts for approximately 1.8% of Argyle Capital Management Inc.’s holdings, making the stock its 12th biggest position. Argyle Capital Management Inc.’s holdings in ConocoPhillips were worth $4,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COP. Orion Capital Management LLC acquired a new position in ConocoPhillips during the 3rd quarter valued at about $27,000. West Branch Capital LLC lifted its stake in shares of ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after acquiring an additional 111 shares during the period. Spartan Planning & Wealth Management acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $40,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $46,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.1 %

ConocoPhillips stock traded up $0.13 during trading hours on Friday, hitting $130.24. The company had a trading volume of 4,823,139 shares, compared to its average volume of 3,808,210. The firm has a market capitalization of $153.22 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 2.72 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. The firm’s fifty day moving average is $122.49 and its 200-day moving average is $117.60. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates 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 business earned $2.71 EPS. On average, research analysts forecast that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Mizuho reiterated a “neutral” rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Susquehanna boosted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Morgan Stanley boosted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, UBS Group boosted 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. 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

Insiders Place Their Bets

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

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.