Geneva Partners LLC Sells 308 Shares of ConocoPhillips (NYSE:COP)

Geneva Partners LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 8.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,423 shares of the energy producer’s stock after selling 308 shares during the quarter. Geneva Partners LLC’s holdings in ConocoPhillips were worth $397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $96,000. RIA Advisory Group LLC acquired a new stake in ConocoPhillips during the 4th quarter worth approximately $462,000. Knights of Columbus Asset Advisors LLC boosted its stake in ConocoPhillips by 1.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 86,088 shares of the energy producer’s stock valued at $9,992,000 after purchasing an additional 923 shares during the period. HTLF Bank acquired a new position in ConocoPhillips in the 4th quarter valued at $945,000. Finally, Fidelis Capital Partners LLC increased its position in ConocoPhillips by 21.1% during the 4th quarter. Fidelis Capital Partners LLC now owns 19,006 shares of the energy producer’s stock worth $2,206,000 after buying an additional 3,306 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock traded up $1.58 during midday trading on Friday, reaching $129.39. The company’s stock had a trading volume of 3,984,322 shares, compared to its average volume of 5,434,193. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $152.22 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $135.18. The business has a 50-day moving average price of $120.56 and a 200-day moving average price of $117.17.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results 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 the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period last year, the company posted $2.71 EPS. On average, sell-side analysts predict that ConocoPhillips will post 9.35 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders 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 boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.41%. ConocoPhillips’s dividend payout ratio is 25.61%.

Wall Street Analyst Weigh In

COP has been the topic of several research reports. Mizuho restated a “neutral” rating and issued a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Susquehanna lowered their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a report on Friday, January 26th. Raymond James dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Truist Financial reduced their price target on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, Morgan Stanley lifted their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Insider Buying and Selling

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value 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 $293,399.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock valued at $87,615,169 over the last quarter. Insiders own 0.34% of the company’s stock.

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.