ConocoPhillips (NYSE:COP) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC trimmed its stake in ConocoPhillips (NYSE:COP) by 16.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 75,301 shares of the energy producer’s stock after selling 14,877 shares during the period. Mizuho Securities USA LLC’s holdings in ConocoPhillips were worth $7,928,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vident Advisory LLC increased its stake in ConocoPhillips by 5.4% during the 1st quarter. Vident Advisory LLC now owns 24,998 shares of the energy producer’s stock worth $3,182,000 after buying an additional 1,291 shares during the period. EntryPoint Capital LLC purchased a new stake in ConocoPhillips during the 1st quarter worth approximately $46,000. CreativeOne Wealth LLC increased its stake in ConocoPhillips by 32.1% during the 1st quarter. CreativeOne Wealth LLC now owns 8,856 shares of the energy producer’s stock worth $1,127,000 after buying an additional 2,150 shares during the period. EP Wealth Advisors LLC increased its stake in ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after buying an additional 4,578 shares during the period. Finally, Stonebridge Capital Advisors LLC increased its stake in ConocoPhillips by 1.2% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 57,383 shares of the energy producer’s stock worth $7,304,000 after buying an additional 693 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP opened at $113.43 on Thursday. The company has a 50-day simple moving average of $108.57 and a 200-day simple moving average of $111.48. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $130.55 billion, a PE ratio of 13.49, a P/E/G ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

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

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COP shares. UBS Group dropped their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets upped their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Six research 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

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.