Field & Main Bank reduced its position in shares of ConocoPhillips (NYSE:COP – Get Rating) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,527 shares of the energy producer's stock after selling 125 shares during the quarter. Field & Main Bank's holdings in ConocoPhillips were worth $317,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Mutual Advisors LLC lifted its holdings in shares of ConocoPhillips by 22.7% during the 4th quarter. Mutual Advisors LLC now owns 13,876 shares of the energy producer's stock worth $1,002,000 after acquiring an additional 2,566 shares during the period. IHT Wealth Management LLC lifted its holdings in shares of ConocoPhillips by 14.4% during the 4th quarter. IHT Wealth Management LLC now owns 4,555 shares of the energy producer's stock worth $329,000 after acquiring an additional 575 shares during the period. Continuum Advisory LLC lifted its holdings in shares of ConocoPhillips by 19.1% during the 4th quarter. Continuum Advisory LLC now owns 5,625 shares of the energy producer's stock worth $406,000 after acquiring an additional 904 shares during the period. Freestone Capital Holdings LLC lifted its holdings in shares of ConocoPhillips by 5.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 12,054 shares of the energy producer's stock worth $870,000 after acquiring an additional 571 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its holdings in shares of ConocoPhillips by 2.7% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 53,668 shares of the energy producer's stock worth $3,874,000 after acquiring an additional 1,426 shares during the period. 79.66% of the stock is owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on COP shares. The Goldman Sachs Group cut their price target on shares of ConocoPhillips from $140.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, June 22nd. StockNews.com lowered shares of ConocoPhillips from a "buy" rating to a "hold" rating in a report on Tuesday, August 16th. Mizuho cut their price target on shares of ConocoPhillips from $148.00 to $138.00 and set a "buy" rating on the stock in a report on Thursday, August 18th. Barclays raised their price target on shares of ConocoPhillips from $142.00 to $153.00 and gave the company an "overweight" rating in a report on Wednesday, August 31st. Finally, Truist Financial cut their price target on shares of ConocoPhillips from $126.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, July 13th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average target price of $121.79.
ConocoPhillips Stock Down 8.6 %
Shares of COP stock traded down $9.47 during mid-day trading on Friday, reaching $100.59. 10,157,266 shares of the company were exchanged, compared to its average volume of 6,900,776. ConocoPhillips has a fifty-two week low of $63.54 and a fifty-two week high of $124.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54. The company has a market capitalization of $130.11 billion, a P/E ratio of 8.31, a P/E/G ratio of 0.35 and a beta of 1.31. The business's 50 day simple moving average is $102.78 and its 200 day simple moving average is $101.29.
ConocoPhillips (NYSE:COP – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share for the quarter, topping analysts' consensus estimates of $3.78 by $0.13. ConocoPhillips had a net margin of 23.10% and a return on equity of 31.24%. The business had revenue of $21.99 billion during the quarter, compared to the consensus estimate of $19.71 billion. During the same quarter last year, the company earned $1.27 earnings per share. Research analysts predict that ConocoPhillips will post 14.54 earnings per share for the current year.
ConocoPhillips Announces Dividend
The business also recently declared a None dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 29th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, September 29th. ConocoPhillips's payout ratio is currently 15.19%.
Insider Transactions at ConocoPhillips
In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total value of $1,275,894.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.08% of the company's stock.
About ConocoPhillips
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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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