Thurston Springer Miller Herd & Titak Inc. Sells 7,564 Shares of ConocoPhillips $COP

Thurston Springer Miller Herd & Titak Inc. cut its holdings in shares of ConocoPhillips (NYSE:COP) by 95.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 390 shares of the energy producer’s stock after selling 7,564 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in ConocoPhillips were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Howard Hughes Medical Institute bought a new stake in ConocoPhillips during the 2nd quarter valued at $25,000. Bogart Wealth LLC boosted its holdings in shares of ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management raised its stake in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the period. BNP Paribas purchased a new stake in ConocoPhillips during the 2nd quarter worth about $33,000. Finally, Nemes Rush Group LLC boosted its stake in ConocoPhillips by 38.7% in the 2nd quarter. Nemes Rush Group LLC now owns 419 shares of the energy producer’s stock worth $38,000 after purchasing an additional 117 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven acquired 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COP. Susquehanna decreased their price target on ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a report on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price on the stock. Piper Sandler reissued an “overweight” rating and issued a $115.00 price target on shares of ConocoPhillips in a report on Monday, November 24th. Finally, Mizuho boosted their price target on shares of ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Nineteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.08.

ConocoPhillips Stock Down 2.9%

Shares of NYSE:COP opened at $92.21 on Friday. The firm has a market capitalization of $113.95 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 2.15 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $106.20. The firm has a fifty day moving average of $89.50 and a 200 day moving average of $92.29.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $1.78 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a dividend of $0.84 per share. The ex-dividend date was Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

ConocoPhillips Company 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.