Yacktman Asset Management LP Reduces Position in ConocoPhillips (NYSE:COP)

Yacktman Asset Management LP lowered its stake in shares of ConocoPhillips (NYSE:COP) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,817,864 shares of the energy producer’s stock after selling 5,045 shares during the period. ConocoPhillips accounts for approximately 2.0% of Yacktman Asset Management LP’s portfolio, making the stock its 20th biggest holding. Yacktman Asset Management LP owned 0.15% of ConocoPhillips worth $210,999,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in COP. Norris Perne & French LLP MI lifted its stake in shares of ConocoPhillips by 1.9% during the third quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock valued at $523,000 after buying an additional 80 shares during the period. Sloy Dahl & Holst LLC lifted its stake in shares of ConocoPhillips by 3.3% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after purchasing an additional 85 shares during the period. KLCM Advisors Inc. grew its position in shares of ConocoPhillips by 2.8% in the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after purchasing an additional 89 shares during the period. Evergreen Capital Management LLC increased its stake in ConocoPhillips by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after purchasing an additional 89 shares during the last quarter. Finally, Endowment Wealth Management Inc. grew its holdings in ConocoPhillips by 4.6% in the 3rd quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock valued at $246,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Mizuho reiterated a “neutral” rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. UBS Group raised their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Raymond James decreased their target price on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Finally, Susquehanna raised their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Up 0.3 %

COP traded up $0.43 during trading on Friday, hitting $130.54. The company had a trading volume of 3,019,432 shares, compared to its average volume of 5,325,978. The business has a 50-day moving average of $122.10 and a 200-day moving average of $117.58. The company has a market cap of $153.57 billion, a PE ratio of 14.27, a P/E/G ratio of 2.70 and a beta of 1.24. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29.

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

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

Insiders Place Their Bets

In other news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Christopher P. Delk sold 8,505 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction 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 owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,775 shares of company stock valued at $87,615,169. Company 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.