Koshinski Asset Management Inc. Lowers Position in ConocoPhillips (NYSE:COP)

Koshinski Asset Management Inc. cut its holdings in shares of ConocoPhillips (NYSE:COPFree Report) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,448 shares of the energy producer’s stock after selling 2,695 shares during the quarter. Koshinski Asset Management Inc.’s holdings in ConocoPhillips were worth $2,141,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in COP. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at $27,000. West Branch Capital LLC grew its stake in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares during the period. RVW Wealth LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth $28,000. Fairfield Bush & CO. bought a new position in shares of ConocoPhillips during the 1st quarter worth $31,000. Finally, Oliver Lagore Vanvalin Investment Group grew its stake in shares of ConocoPhillips by 63.1% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after acquiring an additional 111 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COP. Wells Fargo & Company raised their target price on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday. Raymond James cut their target price on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Piper Sandler cut their target price on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. UBS Group raised their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, Susquehanna cut their target price on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $140.59.

Check Out Our Latest Analysis on COP

Insider Activity at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ConocoPhillips news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the transaction, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 700,775 shares of company stock valued at $87,615,169. Corporate insiders own 0.37% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $131.20 on Friday. The stock has a market cap of $154.34 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 2.85 and a beta of 1.24. 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 has a 1-year low of $95.70 and a 1-year high of $135.18. The stock’s 50-day moving average is $118.84 and its 200 day moving average is $116.85.

ConocoPhillips (NYSE:COPGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period last year, the firm posted $2.71 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 9.21 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.61%.

ConocoPhillips Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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