ConocoPhillips (NYSE:COP) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC lessened its stake in ConocoPhillips (NYSE:COP) by 47.2% in the 3rd quarter, Holdings Channel reports. The firm owned 5,621 shares of the energy producer’s stock after selling 5,026 shares during the period. SageView Advisory Group LLC’s holdings in ConocoPhillips were worth $592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Fisher Asset Management LLC grew its stake in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. grew its position in ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. Primecap Management Co. CA grew its position in ConocoPhillips by 48.9% in the 3rd quarter. Primecap Management Co. CA now owns 4,320,905 shares of the energy producer’s stock valued at $454,905,000 after acquiring an additional 1,418,900 shares in the last quarter. International Assets Investment Management LLC increased its stake in ConocoPhillips by 10,634.2% during the third quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after purchasing an additional 1,194,434 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in shares of ConocoPhillips during the third quarter worth about $124,915,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on COP shares. Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. BMO Capital Markets upped their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Barclays lifted their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Truist Financial cut their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Scotiabank decreased their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $139.06.

ConocoPhillips Stock Down 1.2 %

Shares of NYSE COP opened at $103.22 on Friday. The business has a 50-day moving average price of $108.64 and a 200 day moving average price of $110.43. The stock has a market cap of $118.80 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.85 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the company posted $2.16 EPS. The company’s quarterly revenue was down 8.5% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.02%. The ex-dividend date was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

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.