Bokf Na Cuts Position in ConocoPhillips $COP

Bokf Na lessened its stake in ConocoPhillips (NYSE:COP) by 11.7% during the fourth quarter, HoldingsChannel reports. The firm owned 119,867 shares of the energy producer’s stock after selling 15,877 shares during the period. Bokf Na’s holdings in ConocoPhillips were worth $11,221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of COP. Capital International Investors raised its holdings in shares of ConocoPhillips by 18.2% in the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after purchasing an additional 7,037,873 shares during the period. Primecap Management Co. CA raised its holdings in shares of ConocoPhillips by 31.3% in 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. raised its holdings in shares of ConocoPhillips by 20.6% in 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 shares of ConocoPhillips in the 3rd quarter worth approximately $135,265,000. Finally, SG Americas Securities LLC raised its holdings in shares of ConocoPhillips by 505.9% in the 4th quarter. SG Americas Securities LLC now owns 589,980 shares of the energy producer’s stock worth $55,228,000 after purchasing an additional 735,319 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of several research analyst reports. Argus upped their price target on shares of ConocoPhillips from $111.00 to $128.00 and gave the stock a “strong-buy” rating in a report on Friday, February 13th. Jefferies Financial Group upped their price target on shares of ConocoPhillips from $129.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Sanford C. Bernstein upped their price target on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Citigroup upped their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Capital One Financial upped their price target on shares of ConocoPhillips from $116.00 to $156.00 and gave the stock an “equal weight” rating in a report on Thursday, March 26th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.04.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Q1 earnings beat — ConocoPhillips reported adjusted Q1 profits above estimates, which underpins the company’s near?term cash flow strength and supports dividend/capital return expectations. ConocoPhillips Beats Profit Estimates for Q1
• Positive Sentiment: Sahtu fracking approval — Canadian regulators cleared an expansion of fracking activity in the Sahtu region, giving COP a permit to grow production optionality in a North American basin. This is a project?level positive for future volumes and reserve development. ConocoPhillips gets OK to expand Sahtu fracking
• Positive Sentiment: Analyst upgrades & technical setup — Several outlets note upward revisions to analysts’ earnings estimates and a bullish “hammer” technical pattern that investors cite as a buy?the?dip opportunity. That supports shorter?term demand for the shares. Here’s Why ConocoPhillips (COP) Is a Great ‘Buy the Bottom’ Stock Now
• Positive Sentiment: Sector momentum & coverage — Energy sector strength and coverage/mentions from commentators (including Cramer) have kept investor interest elevated, which can amplify moves in COP alongside peers. Sector Update: Energy Stocks Higher Monday Afternoon
• Neutral Sentiment: Dividend/diversified themes — Coverage highlighting energy dividend momentum references COP among large producers; helpful context but not a near?term catalyst by itself. ConocoPhillips, TC Energy results highlight energy dividend momentum
• Neutral Sentiment: Geopolitical/asset optionality — Broader industry interest in re?engaging with Venezuela is noted; this is a long?horizon factor that could offer optional upside but carries political and execution risk. Suddenly U.S. Oil Giants Are Taking Another Look at ‘Uninvestable’ Venezuela
• Negative Sentiment: Valuation/price?target caution — Some analysts and outlets argue COP is a “hold” after a large YTD run (and a ~46% rise in prior coverage), noting consensus price targets may lag the rally and limit near?term upside. That tempering view is likely pressuring the stock today. Despite Soaring 46%, ConocoPhillips Is a Hold as Price Target Trails

ConocoPhillips Stock Performance

NYSE COP opened at $123.32 on Wednesday. The company has a 50-day simple moving average of $122.43 and a two-hundred day simple moving average of $104.69. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $84.28 and a 12-month high of $135.87. The firm has a market cap of $150.24 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.76 and a beta of 0.14.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts forecast that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, SVP Heather G. Hrap sold 2,654 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $317,630.72. Following the completion of the sale, the senior vice president directly owned 5,663 shares in the company, valued at $677,747.84. This represents a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nicholas G. Olds sold 6,994 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the transaction, the executive vice president directly owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by insiders.

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.