Carret Asset Management LLC Sells 8,750 Shares of ConocoPhillips (NYSE:COP)

Carret Asset Management LLC cut its stake in ConocoPhillips (NYSE:COP) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,673 shares of the energy producer’s stock after selling 8,750 shares during the period. Carret Asset Management LLC’s holdings in ConocoPhillips were worth $4,331,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of COP. Cypress Capital Group raised its position in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after acquiring an additional 96 shares in the last quarter. Orrstown Financial Services Inc. raised its position in ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after acquiring an additional 96 shares in the last quarter. Smithfield Trust Co raised its position in ConocoPhillips by 3.3% during the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after acquiring an additional 100 shares in the last quarter. Principle Wealth Partners LLC raised its position in ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after acquiring an additional 100 shares in the last quarter. Finally, Arlington Trust Co LLC raised its position in ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after acquiring an additional 102 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

NYSE:COP opened at $96.27 on Friday. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The firm has a market cap of $122.49 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 0.79 and a beta of 1.12. The firm’s 50-day simple moving average is $99.26 and its 200 day simple moving average is $103.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.24%. ConocoPhillips’s payout ratio is 40.05%.

Analyst Ratings Changes

Several analysts have issued reports on COP shares. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research report on Thursday, January 30th. UBS Group dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Barclays dropped their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.05.

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.