ConocoPhillips $COP Shares Sold by Findlay Park Partners LLP

Findlay Park Partners LLP lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,770,771 shares of the energy producer’s stock after selling 64,300 shares during the period. ConocoPhillips makes up 1.6% of Findlay Park Partners LLP’s holdings, making the stock its 27th biggest position. Findlay Park Partners LLP owned approximately 0.14% of ConocoPhillips worth $158,909,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in COP. Financial Network Wealth Advisors LLC raised its position in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at about $31,000. Bogart Wealth LLC raised its holdings in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares during the period. Activest Wealth Management boosted its position in ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after purchasing an additional 232 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after purchasing an additional 293 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, Director William H. Mcraven bought 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

NYSE COP opened at $87.18 on Thursday. The stock has a fifty day simple moving average of $90.09 and a 200-day simple moving average of $91.87. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a market cap of $107.73 billion, a PE ratio of 11.70, a P/E/G ratio of 2.36 and a beta of 0.58. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $108.99.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS 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 company had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is currently 47.52%.

Wall Street Analyst Weigh In

Several brokerages recently commented on COP. Piper Sandler reissued an “overweight” rating and issued a $115.00 price target on shares of ConocoPhillips in a report on Monday. BMO Capital Markets cut their target price on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Sanford C. Bernstein upped their price target on shares of ConocoPhillips from $115.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Raymond James Financial lowered their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Finally, Mizuho cut their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.16.

ConocoPhillips Profile

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.