ConocoPhillips (NYSE:COP) Shares Sold by Bank of Hawaii

Bank of Hawaii lowered its stake in shares of ConocoPhillips (NYSE:COP) by 2.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,758 shares of the energy producer’s stock after selling 474 shares during the period. Bank of Hawaii’s holdings in ConocoPhillips were worth $1,870,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter valued at about $26,000. Stephens Consulting LLC boosted its holdings in 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 during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $35,000. Finally, Fairway Wealth LLC raised its position in shares of ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after buying an additional 153 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Mizuho increased their price objective on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Barclays boosted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Scotiabank reduced their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Stock Performance

Shares of COP stock opened at $111.75 on Monday. The firm has a 50 day moving average of $108.91 and a two-hundred day moving average of $111.23. The stock has a market capitalization of $128.61 billion, a PE ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21. 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 released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the business posted $2.16 earnings per share. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. On average, research analysts predict that ConocoPhillips will post 7.78 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.79%. ConocoPhillips’s payout ratio is currently 37.10%.

About ConocoPhillips

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.