Peddock Capital Advisors LLC Has $256,000 Stake in ConocoPhillips (NYSE:COP)

Peddock Capital Advisors LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,428 shares of the energy producer’s stock after selling 149 shares during the quarter. Peddock Capital Advisors LLC’s holdings in ConocoPhillips were worth $256,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in ConocoPhillips by 3.2% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 38,940 shares of the energy producer’s stock worth $4,100,000 after buying an additional 1,204 shares during the last quarter. Talbot Financial LLC grew its position in shares of ConocoPhillips by 6.7% in the third quarter. Talbot Financial LLC now owns 51,503 shares of the energy producer’s stock valued at $5,422,000 after purchasing an additional 3,225 shares during the last quarter. Brookstone Capital Management grew its position in shares of ConocoPhillips by 12.7% in the third quarter. Brookstone Capital Management now owns 8,472 shares of the energy producer’s stock valued at $892,000 after purchasing an additional 957 shares during the last quarter. Atomi Financial Group Inc. grew its position in shares of ConocoPhillips by 9.8% in the third quarter. Atomi Financial Group Inc. now owns 11,360 shares of the energy producer’s stock valued at $1,196,000 after purchasing an additional 1,013 shares during the last quarter. Finally, Marion Wealth Management grew its position in shares of ConocoPhillips by 8.7% in the third quarter. Marion Wealth Management now owns 13,000 shares of the energy producer’s stock valued at $1,369,000 after purchasing an additional 1,044 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

ConocoPhillips Trading Down 0.2 %

Shares of NYSE:COP traded down $0.21 during mid-day trading on Wednesday, hitting $110.59. The company had a trading volume of 790,592 shares, compared to its average volume of 5,937,006. The firm has a fifty day moving average price of $108.90 and a 200 day moving average price of $115.79. The company has a market capitalization of $129.34 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. 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 has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the previous year, the firm earned $1.84 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 8.02 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on COP shares. Wolfe Research started coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Scotiabank lowered their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Truist Financial lowered their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Finally, Mizuho decreased their target price on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $138.29.

ConocoPhillips 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.