Westhampton Capital LLC Trims Position in ConocoPhillips (NYSE:COP)

Westhampton Capital LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 11.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,015 shares of the energy producer’s stock after selling 935 shares during the quarter. Westhampton Capital LLC’s holdings in ConocoPhillips were worth $739,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its stake in ConocoPhillips by 27.5% in the first quarter. AdvisorNet Financial Inc now owns 3,734 shares of the energy producer’s stock worth $475,000 after buying an additional 806 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of ConocoPhillips in the 1st quarter worth approximately $1,933,000. Dynamic Advisor Solutions LLC lifted its stake in shares of ConocoPhillips by 2.9% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 22,157 shares of the energy producer’s stock valued at $2,820,000 after purchasing an additional 628 shares during the period. Sound Income Strategies LLC lifted its stake in shares of ConocoPhillips by 35.1% in the 1st quarter. Sound Income Strategies LLC now owns 1,063 shares of the energy producer’s stock valued at $135,000 after purchasing an additional 276 shares during the period. Finally, Brookstone Capital Management boosted its position in shares of ConocoPhillips by 41.2% during the first quarter. Brookstone Capital Management now owns 10,158 shares of the energy producer’s stock valued at $1,293,000 after purchasing an additional 2,963 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent research reports. Sanford C. Bernstein lowered their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Scotiabank lowered their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Susquehanna dropped their price target on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $136.94.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction 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 in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $104.99 on Wednesday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The stock has a 50-day moving average of $108.84 and a 200 day moving average of $114.28. 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 capitalization of $121.92 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 7.95 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.21%. ConocoPhillips’s dividend payout ratio is presently 25.86%.

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.