Great Diamond Partners LLC Sells 9,505 Shares of ConocoPhillips (NYSE:COP)

Great Diamond Partners LLC lowered its position in ConocoPhillips (NYSE:COP) by 36.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,595 shares of the energy producer’s stock after selling 9,505 shares during the period. Great Diamond Partners LLC’s holdings in ConocoPhillips were worth $1,747,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted 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 valued at $4,097,473,000 after purchasing an additional 8,479,963 shares during the last quarter. Capital International Investors increased its holdings 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 raised its position in shares of ConocoPhillips by 10,634.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after acquiring an additional 1,194,434 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of ConocoPhillips by 46.0% during the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock valued at $409,833,000 after buying an additional 1,015,158 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in ConocoPhillips by 34.7% during the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock valued at $351,602,000 after acquiring an additional 712,062 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on COP shares. Wolfe Research began coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. BMO Capital Markets raised their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, Truist Financial cut their price target 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. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $136.94.

Insider Buying and Selling

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by company insiders.

ConocoPhillips Trading Down 0.9 %

COP stock opened at $102.32 on Wednesday. The stock has a market cap of $118.82 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 0.85 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. The company has a fifty day moving average price of $108.15 and a two-hundred day moving average price of $113.27. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same period last year, the business posted $1.84 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 7.85 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 25.86%.

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.