Proficio Capital Partners LLC Sells 1,111 Shares of ConocoPhillips (NYSE:COP)

Proficio Capital Partners LLC trimmed its holdings in ConocoPhillips (NYSE:COP) by 8.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,142 shares of the energy producer’s stock after selling 1,111 shares during the quarter. Proficio Capital Partners LLC’s holdings in ConocoPhillips were worth $1,278,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Values First Advisors Inc. bought a new stake in ConocoPhillips in the third quarter worth $26,000. Stephens Consulting LLC increased 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 worth $29,000 after buying an additional 104 shares during the period. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Y.D. More Investments Ltd purchased a new stake in ConocoPhillips during the 2nd quarter valued at about $35,000. Finally, Fairway Wealth LLC grew its position in ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on COP shares. Truist Financial lowered their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. UBS Group cut their price target 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. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Finally, StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.47.

ConocoPhillips Stock Down 0.0 %

NYSE:COP opened at $111.59 on Friday. The firm has a 50-day simple moving average of $107.73 and a two-hundred day simple moving average of $112.40. The firm has a market cap of $128.43 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.93 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 earnings per share. Analysts predict that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 27.59%.

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.