ConocoPhillips $COP Shares Sold by Kennedy Investment Group

Kennedy Investment Group trimmed its holdings in ConocoPhillips (NYSE:COP) by 29.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,375 shares of the energy producer’s stock after selling 4,314 shares during the quarter. Kennedy Investment Group’s holdings in ConocoPhillips were worth $931,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. First National Bank Sioux Falls increased its holdings in shares of ConocoPhillips by 4.6% in the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after acquiring an additional 113 shares during the period. KLCM Advisors Inc. increased its holdings in shares of ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after acquiring an additional 115 shares during the period. Deseret Mutual Benefit Administrators increased its holdings in shares of ConocoPhillips by 3.9% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock valued at $334,000 after acquiring an additional 118 shares during the period. Oregon Pacific Wealth Management LLC increased its holdings in shares of ConocoPhillips by 5.8% in the 2nd quarter. Oregon Pacific Wealth Management LLC now owns 2,229 shares of the energy producer’s stock valued at $200,000 after acquiring an additional 123 shares during the period. Finally, Piscataqua Savings Bank increased its holdings in shares of ConocoPhillips by 3.5% in the 1st quarter. Piscataqua Savings Bank now owns 3,705 shares of the energy producer’s stock valued at $389,000 after acquiring an additional 125 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE:COP opened at $95.54 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The stock has a market cap of $119.33 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69. The firm’s fifty day simple moving average is $94.64 and its 200-day simple moving average is $93.00.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the prior year, the company posted $1.98 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio is 41.88%.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. Mizuho cut their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Wells Fargo & Company reissued an “overweight” rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Piper Sandler boosted their price objective on shares of ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Finally, UBS Group boosted their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.14.

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.