Graypoint LLC Has $2.29 Million Holdings in ConocoPhillips (NYSE:COP)

Graypoint LLC raised its stake in ConocoPhillips (NYSE:COP) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,789 shares of the energy producer’s stock after acquiring an additional 496 shares during the quarter. Graypoint LLC’s holdings in ConocoPhillips were worth $2,294,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in COP. Values First Advisors Inc. bought a new position in ConocoPhillips during the 3rd quarter worth $26,000. Stephens Consulting LLC raised its holdings in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at $31,000. Y.D. More Investments Ltd bought a new stake in ConocoPhillips in the second quarter valued at approximately $35,000. Finally, Fairway Wealth LLC raised its stake in ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after buying an additional 153 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COP. Barclays lifted their price target 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. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. UBS Group decreased their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial lowered their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Wolfe Research began coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Stock Performance

Shares of COP opened at $113.60 on Thursday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The business’s fifty day simple moving average is $107.81 and its two-hundred day simple moving average is $112.53. The company has a market cap of $130.74 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 0.89 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the company earned $2.16 earnings per share. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 7.79 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.75%. ConocoPhillips’s payout ratio is currently 37.10%.

Insider Activity

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

ConocoPhillips 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.