Prime Capital Investment Advisors LLC Has $2.42 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Prime Capital Investment Advisors LLC decreased its position in ConocoPhillips (NYSE:COP) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,016 shares of the energy producer’s stock after selling 492 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in ConocoPhillips were worth $2,423,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. EP Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 19.1% in the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after acquiring an additional 4,578 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of ConocoPhillips in the 2nd quarter worth $30,021,000. Alpha DNA Investment Management LLC grew its stake in shares of ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after acquiring an additional 7,490 shares in the last quarter. TCW Group Inc. grew its stake in shares of ConocoPhillips by 37.8% in the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after acquiring an additional 8,231 shares in the last quarter. Finally, Doheny Asset Management CA bought a new stake in shares of ConocoPhillips in the 2nd quarter worth $815,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several research reports. Truist Financial reduced their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Susquehanna increased their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Sanford C. Bernstein reduced their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Barclays increased their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Stock Up 1.1 %

Shares of ConocoPhillips stock opened at $111.82 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The stock has a market capitalization of $128.69 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 0.90 and a beta of 1.21. The company’s 50 day moving average price is $107.71 and its 200-day moving average price is $111.90.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 earnings per share. Equities research analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.79%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

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.