18,125 ConocoPhillips $COP Shares Sold by Cantor Fitzgerald Investment Advisors L.P.

Cantor Fitzgerald Investment Advisors L.P. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 14.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,670 shares of the energy producer’s stock after selling 18,125 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in ConocoPhillips were worth $14,149,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. North Capital Inc. grew its position in shares of ConocoPhillips by 71.8% during the third quarter. North Capital Inc. now owns 3,710 shares of the energy producer’s stock worth $464,000 after acquiring an additional 1,550 shares during the last quarter. Goldstein Advisors LLC increased its holdings in shares of ConocoPhillips by 11.4% in the 3rd quarter. Goldstein Advisors LLC now owns 2,744 shares of the energy producer’s stock worth $343,000 after acquiring an additional 280 shares during the period. Neumann Capital Management LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at about $505,000. NFSG Corp lifted its position in ConocoPhillips by 301.7% in the 3rd quarter. NFSG Corp now owns 3,479 shares of the energy producer’s stock valued at $435,000 after purchasing an additional 2,613 shares during the last quarter. Finally, SLT Holdings LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at about $315,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP opened at $141.66 on Friday. The firm has a 50-day moving average price of $131.53 and a 200 day moving average price of $122.27. The firm has a market capitalization of $170.19 billion, a PE ratio of 18.74, a P/E/G ratio of 1.46 and a beta of 0.24. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $143.13.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. ConocoPhillips’s quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter last year, the company earned $1.42 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 10.84 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio is 44.44%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Seaport Research Partners started coverage on shares of ConocoPhillips in a research note on Thursday, September 3rd. They set a “neutral” rating for the company. Truist Financial raised their price target on shares of ConocoPhillips from $130.00 to $136.00 and gave the company a “hold” rating in a research note on Wednesday, October 7th. Weiss Ratings raised ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Mizuho lowered their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Finally, Susquehanna lifted their target price on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $143.62.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.