Crossmark Global Holdings Inc. Boosts Stock Holdings in ConocoPhillips $COP

Crossmark Global Holdings Inc. boosted its position in shares of ConocoPhillips (NYSE:COP) by 26.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,784 shares of the energy producer’s stock after acquiring an additional 30,042 shares during the period. Crossmark Global Holdings Inc.’s holdings in ConocoPhillips were worth $13,366,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Tema Etfs LLC purchased a new stake in ConocoPhillips during the 3rd quarter valued at about $1,804,000. Victory Capital Management Inc. grew its position in ConocoPhillips by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock valued at $220,506,000 after purchasing an additional 298,245 shares during the last quarter. Natixis Advisors LLC grew its position in ConocoPhillips by 8.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after purchasing an additional 160,410 shares during the last quarter. Chilton Capital Management LLC grew its position in ConocoPhillips by 3.2% during the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock valued at $36,890,000 after purchasing an additional 11,958 shares during the last quarter. Finally, AE Wealth Management LLC grew its position in ConocoPhillips by 107.5% during the 3rd quarter. AE Wealth Management LLC now owns 103,430 shares of the energy producer’s stock valued at $9,783,000 after purchasing an additional 53,587 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP opened at $113.76 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The company has a market cap of $138.59 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.60 and a beta of 0.14. The company’s 50 day moving average is $122.69 and its 200 day moving average is $105.12. ConocoPhillips has a 12-month low of $84.28 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the business earned $2.09 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts predict that ConocoPhillips will post 9.5 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Insider Activity

In related news, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the sale, the senior vice president owned 25,284 shares in the company, valued at approximately $3,287,678.52. The trade was a 23.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Lundquist sold 34,500 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the completion of the sale, the senior vice president owned 17,469 shares in the company, valued at $2,090,689.92. This represents a 66.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 734,891 shares of company stock valued at $93,345,692. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on ConocoPhillips from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Truist Financial set a $128.00 price objective on ConocoPhillips in a research report on Friday, May 1st. UBS Group increased their price objective on ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Royal Bank Of Canada increased their price objective on ConocoPhillips from $118.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Finally, Argus raised their price target on shares of ConocoPhillips from $111.00 to $128.00 and gave the company a “strong-buy” rating in a report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.04.

Key Stories Impacting ConocoPhillips

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

ConocoPhillips Company 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.