ConocoPhillips (NYSE:COP) Shares Sold by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC lessened its position in ConocoPhillips (NYSE:COP) by 4.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,720 shares of the energy producer’s stock after selling 126 shares during the period. Mill Creek Capital Advisors LLC’s holdings in ConocoPhillips were worth $286,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COP. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $26,000. Stephens Consulting LLC increased its holdings in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at about $35,000. Finally, Fairway Wealth LLC increased its holdings in shares of ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COP. Susquehanna increased their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Truist Financial dropped their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Mizuho raised their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Price Performance

COP opened at $112.32 on Monday. The company’s 50 day simple moving average is $108.01 and its 200 day simple moving average is $111.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a market capitalization of $129.27 billion, a PE ratio of 13.36, a P/E/G ratio of 0.92 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $2.16 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts expect that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.78%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.