ConocoPhillips (NYSE:COP) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its stake in ConocoPhillips (NYSE:COP) by 6.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,057 shares of the energy producer’s stock after selling 13,430 shares during the period. ProShare Advisors LLC’s holdings in ConocoPhillips were worth $21,853,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cooksen Wealth LLC acquired a new position in ConocoPhillips in the 4th quarter valued at about $27,000. Cape Investment Advisory Inc. boosted its stake in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares in the last quarter. Stephens Consulting LLC grew 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 worth $29,000 after acquiring an additional 104 shares during the period. Richardson Capital Management LLC purchased a new position in ConocoPhillips in the 1st quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new position in ConocoPhillips during the fourth quarter worth $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 in the company, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Truist Financial decreased their price objective on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Raymond James reissued a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Susquehanna dropped their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.29.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $109.69 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The company has a market cap of $127.38 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.80 and a beta of 1.22. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The firm has a 50 day moving average price of $109.66 and a 200 day moving average price of $116.58.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the prior year, the firm posted $1.84 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.