Cadence Bank Has $3.71 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Cadence Bank lowered its stake in shares of ConocoPhillips (NYSE:COP) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,199 shares of the energy producer’s stock after selling 515 shares during the period. Cadence Bank’s holdings in ConocoPhillips were worth $3,706,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in COP. Values First Advisors Inc. bought a new position in shares of ConocoPhillips in the 3rd quarter valued at about $26,000. Stephens Consulting LLC increased its position in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the last quarter. Reston Wealth Management LLC bought a new stake in ConocoPhillips in the third quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $106.80 on Wednesday. The stock has a market cap of $122.92 billion, a PE ratio of 12.70, a P/E/G ratio of 0.87 and a beta of 1.21. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The business’s 50-day moving average price is $108.89 and its two-hundred day moving average price is $111.01.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.16 EPS. As a group, analysts expect that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.92%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research analyst reports. UBS Group reduced their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Truist Financial reduced their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Scotiabank lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

About ConocoPhillips

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.