Bruce G. Allen Investments LLC Sells 146 Shares of ConocoPhillips (NYSE:COP)

Bruce G. Allen Investments LLC cut its stake in ConocoPhillips (NYSE:COP) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,289 shares of the energy producer’s stock after selling 146 shares during the period. Bruce G. Allen Investments LLC’s holdings in ConocoPhillips were worth $136,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares in the last quarter. Capital International Investors increased its holdings in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after buying an additional 1,856,085 shares during the last quarter. Legal & General Group Plc boosted its position in ConocoPhillips by 4.6% during the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after purchasing an additional 438,241 shares during the period. Fisher Asset Management LLC boosted its position in ConocoPhillips by 2.7% during the fourth quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock worth $860,398,000 after purchasing an additional 191,519 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its position in ConocoPhillips by 2.0% during the second quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock worth $653,065,000 after purchasing an additional 109,885 shares during the period. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COP. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Truist Financial cut their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Sanford C. Bernstein cut their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. BMO Capital Markets increased their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Mizuho lowered their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.29.

ConocoPhillips Stock Up 0.2 %

Shares of NYSE COP opened at $110.98 on Thursday. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The business has a 50-day simple moving average of $108.90 and a two-hundred day simple moving average of $115.79. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company has a market cap of $129.79 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.87 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping 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 business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter last year, the company earned $1.84 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 8.02 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared 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. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.09%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Activity

In other 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 transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

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.