Private Portfolio Partners LLC Lowers Holdings in ConocoPhillips (NYSE:COP)

Private Portfolio Partners LLC cut its position in ConocoPhillips (NYSE:COP) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,447 shares of the energy producer’s stock after selling 200 shares during the quarter. Private Portfolio Partners LLC’s holdings in ConocoPhillips were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors raised its position in shares of ConocoPhillips by 26.8% during the 1st quarter. Capital International Investors now owns 80,245,103 shares of the energy producer’s stock valued at $4,250,693,000 after buying an additional 16,936,808 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ConocoPhillips by 24.3% during the 1st quarter. Geode Capital Management LLC now owns 20,292,498 shares of the energy producer’s stock valued at $1,071,616,000 after buying an additional 3,965,622 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of ConocoPhillips by 45.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,130,486 shares of the energy producer’s stock valued at $1,066,312,000 after buying an additional 6,258,117 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of ConocoPhillips by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,697,687 shares of the energy producer’s stock valued at $1,043,388,000 after buying an additional 916,175 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of ConocoPhillips by 16.1% during the 1st quarter. Bank of New York Mellon Corp now owns 18,862,637 shares of the energy producer’s stock valued at $999,154,000 after buying an additional 2,609,569 shares in the last quarter. Institutional investors and hedge funds own 78.47% of the company’s stock.

COP opened at $60.24 on Wednesday. ConocoPhillips has a 1-year low of $27.53 and a 1-year high of $63.57. The company has a 50 day simple moving average of $56.09 and a two-hundred day simple moving average of $56.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 1.97. The firm has a market cap of $80.67 billion, a P/E ratio of 51.15, a PEG ratio of 1.56 and a beta of 1.77.

ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, August 3rd. The energy producer reported $1.27 EPS for the quarter, topping the consensus estimate of $1.10 by $0.17. The firm had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.44 billion. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. During the same quarter in the previous year, the firm earned ($0.92) earnings per share. Equities analysts anticipate that ConocoPhillips will post 4.79 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Thursday, October 28th will be paid a dividend of $0.46 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, October 27th. This represents a $1.84 dividend on an annualized basis and a yield of 3.05%. ConocoPhillips’s dividend payout ratio is presently -177.32%.

Several research firms have recently weighed in on COP. raised their price objective on shares of ConocoPhillips from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 1st. Truist Securities increased their target price on shares of ConocoPhillips from $78.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday. TheStreet raised shares of ConocoPhillips from a “c” rating to a “b” rating in a report on Tuesday, August 3rd. Credit Suisse Group increased their target price on shares of ConocoPhillips from $74.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Piper Sandler increased their target price on shares of ConocoPhillips from $69.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, July 23rd. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $71.95.

In other news, Director R A. Walker bought 18,000 shares of ConocoPhillips stock in a transaction dated Monday, August 9th. The shares were acquired at an average price of $55.50 per share, with a total value of $999,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jody Freeman sold 3,334 shares of the stock in a transaction on Monday, June 28th. The shares were sold at an average price of $59.65, for a total transaction of $198,873.10. Following the completion of the sale, the director now directly owns 8,251 shares in the company, valued at approximately $492,172.15. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

About ConocoPhillips

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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