Paragon Capital Management LLC Has $8.37 Million Stock Position in ConocoPhillips (NYSE:COP)

Paragon Capital Management LLC decreased its position in shares of ConocoPhillips (NYSE:COP) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,533 shares of the energy producer’s stock after selling 1,186 shares during the period. ConocoPhillips comprises 4.3% of Paragon Capital Management LLC’s holdings, making the stock its 7th largest holding. Paragon Capital Management LLC’s holdings in ConocoPhillips were worth $8,373,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in COP. Manning & Napier Advisors LLC bought a new position in shares of ConocoPhillips in the 2nd quarter valued at $30,021,000. EP Wealth Advisors LLC boosted its stake in ConocoPhillips by 19.1% in the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after buying an additional 4,578 shares in the last quarter. Alpha DNA Investment Management LLC grew its position in ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after acquiring an additional 7,490 shares during the last quarter. TCW Group Inc. raised its stake in ConocoPhillips by 37.8% during the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after acquiring an additional 8,231 shares in the last quarter. Finally, Doheny Asset Management CA bought a new position in shares of ConocoPhillips in the second quarter worth about $815,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 0.7 %

COP opened at $111.59 on Monday. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a fifty day moving average of $107.73 and a 200-day moving average of $112.28. The stock has a market cap of $128.43 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.91 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 (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, sell-side analysts predict that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

Analyst Ratings Changes

COP has been the topic of several research reports. Sanford C. Bernstein decreased their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. BMO Capital Markets boosted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Truist Financial dropped their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.47.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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.