AMF Tjanstepension AB Lowers Stock Position in ConocoPhillips $COP

AMF Tjanstepension AB reduced its stake in shares of ConocoPhillips (NYSE:COP) by 14.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,097,591 shares of the energy producer’s stock after selling 185,416 shares during the period. AMF Tjanstepension AB’s holdings in ConocoPhillips were worth $102,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in COP. Cloud Capital Management LLC purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $26,000. Strive Asset Management LLC purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund purchased a new position in ConocoPhillips in the 4th quarter worth approximately $28,000. KERR FINANCIAL PLANNING Corp purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $28,000. Finally, Optima Capital LLC purchased a new position in ConocoPhillips in the 4th quarter worth approximately $34,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Roth Mkm cut ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price target on the stock. in a report on Tuesday, February 17th. Zacks Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Wolfe Research boosted their price target on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. UBS Group boosted their price target on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, BMO Capital Markets lowered their price target on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $133.12.

ConocoPhillips Stock Performance

NYSE:COP opened at $124.39 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The stock’s 50 day simple moving average is $123.21 and its two-hundred day simple moving average is $106.64. The company has a market cap of $151.54 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.41 and a beta of 0.14.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 30-year gas sales precedent agreement with Glenfarne Alaska LNG to supply North Slope natural gas for Phase One of the Alaska LNG project, strengthening the company’s long-term volume outlook and signaling progress toward a final investment decision. Reuters: Alaska LNG secures supply deal with ConocoPhillips for pipeline project
• Positive Sentiment: The Alaska LNG announcement was echoed by multiple reports, reinforcing investor optimism that ConocoPhillips is helping advance a major infrastructure project that could support future gas monetization and regional energy demand. Yahoo Finance: Glenfarne, ConocoPhillips Sign North Slope Gas Sales Precedent Agreement for Alaska LNG
• Positive Sentiment: Jefferies raised its price target on ConocoPhillips to $161 from $160 and kept a Buy rating, suggesting continued upside expectations from current levels. MarketScreener: Jefferies adjusts price target on ConocoPhillips
• Neutral Sentiment: Capital One Financial trimmed its price target slightly to $154 from $156 while maintaining an Equal Weight rating, a modestly less bullish read but not a major negative for the stock. MarketScreener: Capital One adjusts price target on ConocoPhillips
• Neutral Sentiment: Broader commentary on oil prices and options trading pointed to a supportive crude backdrop for COP, but this was more of a market/strategy note than a company-specific fundamental update. Barchart: ConocoPhillips Put Options Look Attractive to Short Sellers as Oil Rises

Insiders Place Their Bets

In other news, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president owned 25,284 shares of the company’s stock, valued at approximately $3,287,678.52. The trade was a 23.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 734,891 shares of company stock worth $93,345,692. Insiders own 0.09% of the company’s stock.

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.