ConocoPhillips $COP Shares Sold by LSV Asset Management

LSV Asset Management trimmed its position in shares of ConocoPhillips (NYSE:COP) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,141,184 shares of the energy producer’s stock after selling 85,361 shares during the quarter. LSV Asset Management’s holdings in ConocoPhillips were worth $102,410,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bulltick Wealth Management LLC lifted its position in shares of ConocoPhillips by 8.1% during the second quarter. Bulltick Wealth Management LLC now owns 5,213 shares of the energy producer’s stock worth $468,000 after purchasing an additional 392 shares in the last quarter. Rothschild Investment LLC increased its holdings in ConocoPhillips by 1.5% during the 2nd quarter. Rothschild Investment LLC now owns 22,384 shares of the energy producer’s stock worth $2,009,000 after purchasing an additional 331 shares during the period. Integrated Quantitative Investments LLC acquired a new stake in ConocoPhillips in the 2nd quarter valued at about $497,000. Financial Gravity Companies Inc. acquired a new stake in ConocoPhillips in the 2nd quarter valued at about $94,000. Finally, Letko Brosseau & Associates Inc. boosted its stake in shares of ConocoPhillips by 1.5% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 425,685 shares of the energy producer’s stock valued at $38,201,000 after buying an additional 6,356 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In related news, Director William H. Mcraven acquired 5,768 shares of ConocoPhillips stock in a transaction on Monday, November 10th. The stock was purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on COP shares. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Jefferies Financial Group dropped their target price on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Melius started coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. UBS Group lowered their price objective on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, Piper Sandler decreased their target price on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, October 13th. Eighteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.33.

ConocoPhillips Trading Down 2.6%

NYSE:COP opened at $88.95 on Tuesday. The company has a market capitalization of $109.92 billion, a PE ratio of 11.94, a P/E/G ratio of 2.36 and a beta of 0.58. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The stock’s 50 day moving average price is $90.88 and its 200 day moving average price is $91.94. 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 (NYSE:COP) last posted its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The company’s revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 3.8%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, November 17th. ConocoPhillips’s payout ratio is currently 47.52%.

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.