Claro Advisors LLC Sells 3,325 Shares of ConocoPhillips $COP

Claro Advisors LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 55.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,718 shares of the energy producer’s stock after selling 3,325 shares during the quarter. Claro Advisors LLC’s holdings in ConocoPhillips were worth $244,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in COP. Aberdeen Group plc boosted its stake in shares of ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after purchasing an additional 264,726 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after buying an additional 22,827 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in ConocoPhillips by 2.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock valued at $304,716,000 after buying an additional 78,642 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in ConocoPhillips by 17.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock valued at $3,924,000 after buying an additional 5,627 shares in the last quarter. Finally, Lynx Investment Advisory boosted its position in ConocoPhillips by 316.6% in the 1st quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer’s stock valued at $1,131,000 after buying an additional 8,184 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 2.4%

Shares of NYSE COP opened at $85.62 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The stock’s fifty day simple moving average is $91.82 and its two-hundred day simple moving average is $91.99. The stock has a market capitalization of $106.93 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.51 billion during the quarter, compared to analysts’ expectations of $14.51 billion. During the same period in the prior year, the business posted $1.78 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $0.84 dividend. The ex-dividend date is Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

Analyst Ratings Changes

COP has been the topic of a number of research reports. Weiss Ratings downgraded shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. Melius assumed coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Jefferies Financial Group dropped their price target on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Piper Sandler decreased their price objective on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.67.

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.