ConocoPhillips (NYSE:COP) Holdings Decreased by Hancock Whitney Corp

Hancock Whitney Corp cut its position in shares of ConocoPhillips (NYSE:COP) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,311 shares of the energy producer’s stock after selling 1,695 shares during the quarter. Hancock Whitney Corp’s holdings in ConocoPhillips were worth $13,647,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in COP. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Cape Investment Advisory Inc. boosted its stake in ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares during the period. Stephens Consulting LLC boosted its stake in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the period. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

Shares of COP opened at $110.08 on Friday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The stock has a market capitalization of $127.83 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.80 and a beta of 1.22. The firm’s 50 day moving average is $109.76 and its 200-day moving average is $116.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the prior year, the company earned $1.84 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Equities research analysts anticipate that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent research reports. Barclays upped their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, Truist Financial cut their price target on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $142.29.

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.