ConocoPhillips (NYSE:COP) Stock Holdings Trimmed by Forum Financial Management LP

Forum Financial Management LP decreased its holdings in ConocoPhillips (NYSE:COP) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,679 shares of the energy producer’s stock after selling 246 shares during the quarter. Forum Financial Management LP’s holdings in ConocoPhillips were worth $1,966,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Ruedi Wealth Management Inc. raised its holdings in ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $26,000. Stephens Consulting LLC raised its holdings in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the third quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd acquired a new position in ConocoPhillips in the second quarter worth approximately $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE:COP opened at $107.84 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $107.94 and a 200 day moving average price of $112.80. The firm has a market capitalization of $125.23 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results 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 business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the company earned $2.16 EPS. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. Research analysts anticipate that ConocoPhillips will post 7.76 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. Stockholders of record on Monday, November 11th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

Analyst Ratings Changes

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 report on Friday, September 13th. Barclays increased their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday. Sanford C. Bernstein lowered their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Finally, Truist Financial lowered their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Six research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $137.47.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’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 sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

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.