ConocoPhillips $COP Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,176,077 shares of the energy producer’s stock after selling 16,347 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ConocoPhillips were worth $110,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. PKO BP BANKOWY Universal Pension Society JSC acquired a new stake in ConocoPhillips in the fourth quarter worth $2,902,000. Hartford Funds Management Co LLC boosted its holdings in shares of ConocoPhillips by 3.4% during the fourth quarter. Hartford Funds Management Co LLC now owns 8,685 shares of the energy producer’s stock valued at $813,000 after acquiring an additional 287 shares during the period. Csenge Advisory Group boosted its holdings in shares of ConocoPhillips by 3.7% during the fourth quarter. Csenge Advisory Group now owns 4,833 shares of the energy producer’s stock valued at $452,000 after acquiring an additional 171 shares during the period. Integral Investment Advisors Inc. grew its position in shares of ConocoPhillips by 33.4% during the fourth quarter. Integral Investment Advisors Inc. now owns 2,938 shares of the energy producer’s stock worth $275,000 after acquiring an additional 735 shares during the last quarter. Finally, Aviance Capital Partners LLC increased its holdings in shares of ConocoPhillips by 2.5% in the 4th quarter. Aviance Capital Partners LLC now owns 26,625 shares of the energy producer’s stock worth $2,492,000 after acquiring an additional 652 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 30-year gas sales agreement tied to the Alaska LNG project, giving the company long-duration visibility on gas volumes and strengthening the investment case for its Alaska assets. ConocoPhillips Alaska LNG Deal Extends Gas Visibility And Valuation Debate
• Positive Sentiment: Reuters reported that delays in ConocoPhillips’ Qatar gas joint ventures are expected to be measured in months rather than years, which reduces concern around the timing of future LNG growth. ConocoPhillips expects Qatar gas JVs delays of months, not years
• Positive Sentiment: Analysts and screeners highlighted COP as a high-ROE name, a momentum stock, and a company with rising earnings estimates, all of which can support investor demand for the shares. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?
• Positive Sentiment: Jefferies reportedly set a new $161 price target for COP, reinforcing a constructive Wall Street view on the stock. ConocoPhillips Given New $161.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Several articles were more about COP’s standing versus peers or general broker sentiment, offering context but little immediate new catalyst. ConocoPhillips (COP) Is Considered a Good Investment by Brokers: Is That True? Occidental Petroleum Stock Is Up 45% This Year…
• Negative Sentiment: Despite the positive longer-term narrative, COP also tracked a broader market pullback and energy volatility, which may have contributed to the stock’s softer tone in the latest trading session. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $122.33 on Thursday. The company’s fifty day moving average is $123.48 and its two-hundred day moving average is $107.14. The company has a market cap of $149.04 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.14. ConocoPhillips has a 12-month low of $84.28 and a 12-month high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

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

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

Insider Activity at ConocoPhillips

In related news, SVP Kelly Brunetti Rose sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the transaction, the senior vice president directly owned 32,984 shares of the company’s stock, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy A. Leach sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the completion of the transaction, the director owned 411,211 shares in the company, valued at approximately $48,847,754.69. This represents a 8.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 734,891 shares of company stock worth $93,345,692. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of a number of analyst reports. BMO Capital Markets reduced their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Sanford C. Bernstein increased their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Capital One Financial cut their target price on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday. Citigroup increased their price target on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Finally, Raymond James Financial lifted their price objective on shares of ConocoPhillips from $118.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $133.12.

ConocoPhillips 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.