Prudent Man Advisors LLC Sells 362 Shares of ConocoPhillips (NYSE:COP)

Prudent Man Advisors LLC reduced its position in ConocoPhillips (NYSE:COP) by 5.0% during the third quarter, Holdings Channel reports. The institutional investor owned 6,878 shares of the energy producer’s stock after selling 362 shares during the quarter. Prudent Man Advisors LLC’s holdings in ConocoPhillips were worth $724,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of COP. Bahl & Gaynor Inc. lifted its holdings in shares of ConocoPhillips by 12.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 4,043 shares of the energy producer’s stock valued at $515,000 after purchasing an additional 434 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in ConocoPhillips by 156.5% in the first quarter. UniSuper Management Pty Ltd now owns 24,602 shares of the energy producer’s stock worth $3,131,000 after acquiring an additional 15,009 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth about $10,641,000. Bessemer Group Inc. grew its position in ConocoPhillips by 17.8% during the 1st quarter. Bessemer Group Inc. now owns 2,599,053 shares of the energy producer’s stock worth $330,806,000 after purchasing an additional 391,986 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in shares of ConocoPhillips by 110.7% during the first quarter. Lake Street Advisors Group LLC now owns 7,853 shares of the energy producer’s stock valued at $1,000,000 after buying an additional 4,126 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $112.32 on Monday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a market capitalization of $129.27 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. The business has a 50 day simple moving average of $108.01 and a 200-day simple moving average of $111.59.

ConocoPhillips (NYSE:COP) last posted its 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 company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.16 EPS. Equities research analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.78%. ConocoPhillips’s payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on COP shares. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Truist Financial dropped their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Finally, BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Six 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 company’s stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

About ConocoPhillips

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.