Caprock Group LLC Cuts Position in ConocoPhillips (NYSE:COP)

Caprock Group LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 6.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 27,372 shares of the energy producer’s stock after selling 1,889 shares during the quarter. Caprock Group LLC’s holdings in ConocoPhillips were worth $2,882,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips in the third quarter worth $26,000. Stephens Consulting LLC increased 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 purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new position in ConocoPhillips in the third quarter valued at about $31,000. Y.D. More Investments Ltd acquired a new position in shares of ConocoPhillips during the second quarter worth about $35,000. Finally, Fairway Wealth LLC boosted its position in shares of ConocoPhillips by 95.6% in 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 period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $113.09 on Wednesday. The company has a market cap of $130.16 billion, a P/E ratio of 13.45, a PEG ratio of 0.92 and a beta of 1.21. The business has a 50 day moving average of $108.35 and a two-hundred day moving average of $111.47. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 EPS. As a group, analysts anticipate that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The company 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 dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analysts Set New Price Targets

Several research firms recently commented on COP. BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Barclays raised their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report 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 research report on Monday, September 30th. Finally, Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average 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.