Courier Capital LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,454 shares of the energy producer’s stock after selling 1,609 shares during the quarter. Courier Capital LLC’s holdings in ConocoPhillips were worth $393,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Blue Square Asset Management LLC bought a new stake in ConocoPhillips in the 2nd quarter worth approximately $28,000. Financial Insights Inc. purchased a new position in shares of ConocoPhillips in the second quarter worth $33,000. Horan Capital Advisors LLC. bought a new stake in ConocoPhillips during the 3rd quarter valued at $35,000. Planned Solutions Inc. purchased a new stake in ConocoPhillips during the 3rd quarter valued at $39,000. Finally, Sageworth Trust Co boosted its position in ConocoPhillips by 393.2% during the 3rd quarter. Sageworth Trust Co now owns 1,233 shares of the energy producer’s stock valued at $40,000 after buying an additional 983 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.
Shares of COP opened at $37.44 on Tuesday. The firm has a 50-day simple moving average of $32.61 and a two-hundred day simple moving average of $38.28. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 2.16. ConocoPhillips has a 1-year low of $20.84 and a 1-year high of $67.13. The stock has a market cap of $40.85 billion, a PE ratio of -33.70 and a beta of 1.70.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 29th. The energy producer reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.01). ConocoPhillips had a negative return on equity of 0.02% and a negative net margin of 5.66%. During the same quarter in the previous year, the company posted $0.82 earnings per share. As a group, sell-side analysts expect that ConocoPhillips will post -0.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, October 19th will be paid a $0.43 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Friday, October 16th. ConocoPhillips’s payout ratio is currently 47.91%.
Several equities research analysts have weighed in on COP shares. SunTrust Banks started coverage on shares of ConocoPhillips in a research report on Thursday, July 23rd. They set a “buy” rating and a $51.00 price target for the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, October 14th. Credit Suisse Group assumed coverage on shares of ConocoPhillips in a research report on Tuesday, August 4th. They issued a “buy” rating and a $52.00 target price for the company. Wells Fargo & Company reaffirmed a “buy” rating on shares of ConocoPhillips in a research report on Tuesday, September 15th. Finally, Truist raised shares of ConocoPhillips to a “buy” rating and raised their target price for the stock from $51.00 to $52.00 in a research report on Friday, October 9th. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and an average price target of $54.46.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.
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