ConocoPhillips (NYSE:COP) Shares Sold by Dakota Wealth Management

Dakota Wealth Management reduced its stake in ConocoPhillips (NYSE:COP) by 1.5% in the third quarter, HoldingsChannel reports. The fund owned 63,773 shares of the energy producer’s stock after selling 951 shares during the quarter. Dakota Wealth Management’s holdings in ConocoPhillips were worth $6,714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $4,097,473,000 after purchasing an additional 8,479,963 shares during the last quarter. Capital International Investors raised its position in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after buying an additional 1,856,085 shares during the period. International Assets Investment Management LLC lifted its position in shares of ConocoPhillips by 10,634.2% in the third quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after purchasing an additional 1,194,434 shares in the last quarter. Clearbridge Investments LLC lifted its position in ConocoPhillips by 46.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after buying an additional 1,015,158 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of ConocoPhillips by 34.7% during the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after acquiring an additional 712,062 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on COP shares. Mizuho cut their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. BMO Capital Markets upped their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wolfe Research initiated coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Truist Financial reduced their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $136.94.

ConocoPhillips Stock Down 0.1 %

NYSE:COP opened at $104.36 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a market cap of $121.19 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 0.84 and a beta of 1.21. The stock’s fifty day moving average price is $108.74 and its two-hundred day moving average price is $114.21.

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

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.22%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 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.