Sigma Planning Corp Trims Holdings in ConocoPhillips (NYSE:COP)

Sigma Planning Corp reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 44.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,959 shares of the energy producer’s stock after selling 7,868 shares during the quarter. Sigma Planning Corp’s holdings in ConocoPhillips were worth $1,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Orion Capital Management LLC bought a new position in ConocoPhillips during the third quarter worth $27,000. West Branch Capital LLC lifted its stake in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after purchasing an additional 111 shares during the last quarter. Spartan Planning & Wealth Management bought a new position in ConocoPhillips during the third quarter worth $40,000. Finally, Newbridge Financial Services Group Inc. bought a new position in ConocoPhillips during the third quarter worth $44,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Mizuho reiterated a “neutral” rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. UBS Group raised their target price on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Piper Sandler raised their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company raised their target price on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Trading Down 0.0 %

Shares of COP opened at $129.33 on Tuesday. The business’s 50-day moving average price is $120.93 and its 200 day moving average price is $117.31. The stock has a market capitalization of $152.15 billion, a P/E ratio of 14.27, a P/E/G ratio of 2.73 and a beta of 1.24. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter last year, the business posted $2.71 EPS. Analysts expect that ConocoPhillips will post 9.47 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.41%. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is currently owned by company insiders.

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.