ConocoPhillips (NYSE:COP) Stock Holdings Lessened by Massachusetts Wealth Management

Massachusetts Wealth Management trimmed its position in shares of ConocoPhillips (NYSE:COP) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,908 shares of the energy producer’s stock after selling 1,475 shares during the period. ConocoPhillips comprises 2.0% of Massachusetts Wealth Management’s portfolio, making the stock its 7th largest position. Massachusetts Wealth Management’s holdings in ConocoPhillips were worth $3,149,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mediolanum International Funds Ltd raised its position in ConocoPhillips by 2.8% during the 3rd quarter. Mediolanum International Funds Ltd now owns 382,825 shares of the energy producer’s stock valued at $40,023,000 after purchasing an additional 10,381 shares during the last quarter. Lake Street Advisors Group LLC grew its position in shares of ConocoPhillips by 2.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 8,297 shares of the energy producer’s stock worth $874,000 after buying an additional 172 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its stake in shares of ConocoPhillips by 63.5% during the third quarter. Strategic Investment Solutions Inc. IL now owns 870 shares of the energy producer’s stock valued at $92,000 after buying an additional 338 shares during the period. Cullinan Associates Inc. raised its holdings in shares of ConocoPhillips by 1.3% during the third quarter. Cullinan Associates Inc. now owns 22,979 shares of the energy producer’s stock valued at $2,423,000 after acquiring an additional 300 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its stake in ConocoPhillips by 23.4% in the third quarter. Moody Lynn & Lieberson LLC now owns 5,473 shares of the energy producer’s stock worth $576,000 after acquiring an additional 1,037 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 0.6 %

ConocoPhillips stock traded up $0.60 during mid-day trading on Friday, reaching $104.97. The stock had a trading volume of 879,111 shares, compared to its average volume of 5,872,103. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a 50-day moving average price of $108.74 and a two-hundred day moving average price of $114.21. The company has a market capitalization of $121.90 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.84 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

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

ConocoPhillips Cuts Dividend

The firm 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 was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.21%. ConocoPhillips’s dividend payout ratio is 25.86%.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Truist Financial lowered 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. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, Mizuho dropped their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $136.94.

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.