Profund Advisors LLC Sells 6,736 Shares of ConocoPhillips $COP

Profund Advisors LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 15.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,813 shares of the energy producer’s stock after selling 6,736 shares during the quarter. Profund Advisors LLC’s holdings in ConocoPhillips were worth $3,540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Cloud Capital Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $28,000. Board of the Pension Protection Fund bought a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $28,000. Strive Asset Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $28,000. Finally, BNP Paribas bought a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $33,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $125.16 on Wednesday. The stock’s fifty day moving average is $123.37 and its 200 day moving average is $106.90. ConocoPhillips has a fifty-two week low of $84.28 and a fifty-two week high of $135.87. The firm has a market capitalization of $152.49 billion, a PE ratio of 21.25, a PEG ratio of 1.44 and a beta of 0.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the firm posted $2.09 EPS. ConocoPhillips’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that ConocoPhillips will post 9.63 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be issued 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%.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ long-term gas supply agreement for the Alaska LNG project adds durable volume visibility and reinforces the company’s role in a large-scale energy infrastructure project. Glenfarne, ConocoPhillips Sign North Slope Gas Sales Precedent Agreement for Alaska LNG
• Positive Sentiment: Reuters reported that the Alaska LNG project now has enough supply commitments to support a final investment decision for Phase One, which reduces project uncertainty and could improve sentiment toward COP. Alaska LNG secures supply deal with ConocoPhillips for pipeline project
• Positive Sentiment: Jefferies raised its price target on ConocoPhillips to $161 and reiterated a Buy rating, signaling continued Wall Street confidence in the stock’s upside. Jefferies adjusts price target on ConocoPhillips
• Positive Sentiment: Articles highlighting rising earnings estimates and momentum-stock characteristics suggest analysts see improving near-term fundamentals, which can support the shares. Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?

Insider Activity at ConocoPhillips

In related news, SVP Heather G. Hrap sold 2,654 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $317,630.72. Following the sale, the senior vice president owned 5,663 shares in the company, valued at approximately $677,747.84. This represents a 31.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 6,994 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the sale, the executive vice president owned 5,395 shares in the company, valued at approximately $685,488.70. The trade was a 56.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 734,891 shares of company stock worth $93,345,692 in the last ninety days. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COP. Mizuho increased their target price on ConocoPhillips from $121.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Wolfe Research increased their target price on ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Truist Financial set a $128.00 target price on ConocoPhillips in a research report on Friday, May 1st. Finally, BMO Capital Markets lowered their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.12.

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.