Headlands Technologies LLC Sells 5,517 Shares of ConocoPhillips (NYSE:COP)

Headlands Technologies LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 80.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,304 shares of the energy producer’s stock after selling 5,517 shares during the period. Headlands Technologies LLC’s holdings in ConocoPhillips were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in COP. Orion Capital Management LLC bought a new position in ConocoPhillips during the third quarter worth about $27,000. West Branch Capital LLC grew its position in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 111 shares in the last quarter. Spartan Planning & Wealth Management bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $40,000. Finally, Nemes Rush Group LLC grew its holdings in shares of ConocoPhillips by 163.9% during the 3rd quarter. Nemes Rush Group LLC now owns 380 shares of the energy producer’s stock worth $46,000 after purchasing an additional 236 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COP. Scotiabank upped their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Mizuho reiterated a “neutral” rating and set a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Barclays began coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective on the stock. Wells Fargo & Company lifted their target price on ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Finally, Truist Financial dropped their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a report on Friday, April 5th. Five research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.24.

ConocoPhillips Price Performance

Shares of COP opened at $130.24 on Monday. The company has a 50 day moving average of $122.49 and a two-hundred day moving average of $117.60. The company has a market cap of $153.22 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the previous year, the business posted $2.71 EPS. As a group, analysts predict that ConocoPhillips will post 9.57 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm 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. 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 2.40%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insider Activity

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated 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 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 SEC, which can be accessed through the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is currently owned by insiders.

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.