ConocoPhillips (NYSE:COP) Shares Sold by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. lessened its position in shares of ConocoPhillips (NYSE:COP) by 26.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 925 shares of the energy producer’s stock after selling 331 shares during the quarter. GHP Investment Advisors Inc.’s holdings in ConocoPhillips were worth $97,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the 4th quarter worth $26,000. 10Elms LLP acquired a new position in shares of ConocoPhillips during the 4th quarter worth $28,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips during the 4th quarter worth $32,000. Garde Capital Inc. acquired a new position in shares of ConocoPhillips during the 1st quarter worth $35,000. Finally, Rakuten Securities Inc. raised its stake in shares of ConocoPhillips by 222.0% during the 4th quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock worth $38,000 after buying an additional 262 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COP. Piper Sandler dropped their price objective on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Scotiabank dropped their price objective on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Mizuho dropped their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. UBS Group dropped their price objective on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Finally, Citigroup dropped their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.30.

ConocoPhillips Stock Performance

NYSE COP opened at $89.12 on Thursday. The firm has a market capitalization of $112.66 billion, a P/E ratio of 11.32, a P/E/G ratio of 2.42 and a beta of 0.61. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The business’s 50-day simple moving average is $89.89 and its 200-day simple moving average is $95.24.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the previous year, the company posted $2.05 EPS. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Insider Activity

In other news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president now directly owns 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips 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.