HL Financial Services LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 8.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,203 shares of the energy producer’s stock after selling 2,221 shares during the quarter. HL Financial Services LLC’s holdings in ConocoPhillips were worth $1,873,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abbrea Capital LLC boosted its stake in ConocoPhillips by 4.6% in the second quarter. Abbrea Capital LLC now owns 16,086 shares of the energy producer’s stock valued at $1,120,000 after buying an additional 705 shares in the last quarter. BKD Wealth Advisors LLC boosted its stake in ConocoPhillips by 1.0% in the third quarter. BKD Wealth Advisors LLC now owns 69,862 shares of the energy producer’s stock valued at $5,407,000 after buying an additional 725 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in ConocoPhillips by 0.5% in the second quarter. Mutual of America Capital Management LLC now owns 151,049 shares of the energy producer’s stock valued at $10,516,000 after buying an additional 741 shares in the last quarter. First Personal Financial Services boosted its stake in ConocoPhillips by 41.7% in the third quarter. First Personal Financial Services now owns 2,517 shares of the energy producer’s stock valued at $195,000 after buying an additional 741 shares in the last quarter. Finally, HPM Partners LLC boosted its stake in ConocoPhillips by 4.3% in the second quarter. HPM Partners LLC now owns 17,804 shares of the energy producer’s stock valued at $1,240,000 after buying an additional 742 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.
In other news, insider Don E. Jr. Wallette sold 59,432 shares of ConocoPhillips stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $71.87, for a total transaction of $4,271,377.84. Following the sale, the insider now directly owns 83,047 shares of the company’s stock, valued at $5,968,587.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Glenda Mae Schwarz sold 18,882 shares of ConocoPhillips stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $71.15, for a total value of $1,343,454.30. Following the sale, the vice president now directly owns 29,064 shares in the company, valued at $2,067,903.60. The disclosure for this sale can be found here. Insiders have sold 288,378 shares of company stock worth $20,769,145 over the last three months. Insiders own 0.88% of the company’s stock.
Shares of COP stock opened at $66.73 on Friday. ConocoPhillips has a 12 month low of $48.97 and a 12 month high of $80.24. The stock has a market cap of $80.62 billion, a PE ratio of 111.22, a PEG ratio of 1.62 and a beta of 1.22. The company has a current ratio of 1.99, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 25th. The energy producer reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.19. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.48 billion. Equities analysts predict that ConocoPhillips will post 4.79 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, October 15th will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.83%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, October 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 203.33%.
Several analysts recently weighed in on the company. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Thursday, August 23rd. ValuEngine lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Mizuho reaffirmed a “hold” rating and issued a $82.00 price objective on shares of ConocoPhillips in a research note on Monday, October 22nd. JPMorgan Chase & Co. raised their price objective on ConocoPhillips from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Finally, Morgan Stanley raised their price objective on ConocoPhillips from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $75.53.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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