Securian Asset Management Inc. Has $3.15 Million Position in ConocoPhillips $COP

Securian Asset Management Inc. reduced its stake in ConocoPhillips (NYSE:COP) by 44.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 33,601 shares of the energy producer’s stock after selling 26,715 shares during the quarter. Securian Asset Management Inc.’s holdings in ConocoPhillips were worth $3,145,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cloud Capital Management LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of ConocoPhillips during the third quarter worth $28,000. Board of the Pension Protection Fund bought a new position in ConocoPhillips in the fourth quarter valued at about $28,000. Strive Asset Management LLC bought a new position in ConocoPhillips in the third quarter valued at about $28,000. Finally, Cedar Mountain Advisors LLC boosted its holdings in ConocoPhillips by 58.0% in the third quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 116 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Norway approved ConocoPhillips’ plan to restart and redevelop long-idle oil and gas fields in the Greater Ekofisk area, a project expected to increase gas deliveries to Europe and benefit from stronger European energy security demand. Article: ConocoPhillips gets Norway’s nod to restart fields, boost Europe gas supply
• Positive Sentiment: The company’s North Sea revival plan could unlock new gas volumes for Germany, the UK, and other European markets, reinforcing COP’s exposure to a potentially stronger gas pricing backdrop. Article: ConocoPhillips North Sea Revival Ties Undervalued Stock To European Gas Demand
• Neutral Sentiment: Investors are also parsing analyst questions from COP’s recent Q1 earnings call, suggesting the market is still focused on management’s guidance, capital plans, and the durability of the company’s earnings outlook. Article: The 5 most interesting analyst questions from ConocoPhillips’s Q1 earnings call
• Negative Sentiment: Freedom Capital downgraded ConocoPhillips from strong-buy to hold, which can weigh on sentiment and offset some of the optimism from the Norway project. Article: ConocoPhillips was downgraded by Freedom Capital from strong-buy to hold

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. Morgan Stanley increased their target price on ConocoPhillips from $108.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. The Goldman Sachs Group lifted their target price on ConocoPhillips from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. raised their price target on ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Finally, Sanford C. Bernstein raised their price target on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $133.04.

ConocoPhillips Stock Performance

COP opened at $113.76 on Monday. The business has a fifty day simple moving average of $122.69 and a 200 day simple moving average of $105.12. The company has a market capitalization of $138.59 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.60 and a beta of 0.14. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last released 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. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 EPS. Research analysts expect that ConocoPhillips will post 9.5 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 40,000 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the completion of the transaction, the director owned 411,211 shares of the company’s stock, valued at approximately $48,847,754.69. The trade was a 8.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 506,800 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $127.26, for a total value of $64,495,368.00. Following the transaction, the chief executive officer directly owned 6,835 shares of the company’s stock, valued at $869,822.10. This trade represents a 98.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 734,891 shares of company stock worth $93,345,692 in the last three months. Insiders own 0.09% of the company’s stock.

About ConocoPhillips

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.