ConocoPhillips (NYSE:COP) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co decreased its position in ConocoPhillips (NYSE:COP) by 7.3% in the 3rd quarter, Holdings Channel reports. The fund owned 9,105 shares of the energy producer’s stock after selling 713 shares during the period. Fiduciary Trust Co’s holdings in ConocoPhillips were worth $959,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the 3rd quarter worth $26,000. Stephens Consulting LLC grew its stake in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the third quarter worth about $31,000. Finally, Y.D. More Investments Ltd purchased a new position in ConocoPhillips in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP stock opened at $108.37 on Friday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a market capitalization of $124.72 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock’s fifty day moving average is $108.77 and its two-hundred day moving average is $110.86.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the firm posted $2.16 EPS. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, research analysts predict that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed 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. This represents a $3.12 dividend on an annualized basis and a yield of 2.88%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Barclays increased their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Truist Financial decreased their price objective 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. Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, UBS Group decreased their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

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.