ConocoPhillips (NYSE:COP) Shares Sold by Caprock Group LLC

Caprock Group LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,372 shares of the energy producer’s stock after selling 1,889 shares during the period. Caprock Group LLC’s holdings in ConocoPhillips were worth $2,882,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Values First Advisors Inc. acquired a new position in ConocoPhillips during the 3rd quarter valued at about $26,000. Stephens Consulting LLC boosted its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Y.D. More Investments Ltd bought a new stake in ConocoPhillips during the second quarter worth approximately $35,000. Finally, Fairway Wealth LLC lifted its position in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.6 %

Shares of NYSE:COP opened at $113.09 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock’s 50-day moving average is $108.35 and its 200-day moving average is $111.47. The company has a market cap of $130.16 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter last year, the firm posted $2.16 EPS. The company’s revenue was down 8.5% on a year-over-year basis. Equities research analysts predict that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.76%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COP. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Truist Financial cut their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Barclays lifted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips 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.