Hancock Whitney Corp Has $12.45 Million Holdings in ConocoPhillips (NYSE:COP)

Hancock Whitney Corp trimmed its holdings in ConocoPhillips (NYSE:COP) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,213 shares of the energy producer’s stock after selling 1,098 shares during the period. Hancock Whitney Corp’s holdings in ConocoPhillips were worth $12,445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in COP. Manning & Napier Advisors LLC bought a new position in ConocoPhillips during the second quarter worth $30,021,000. Alpha DNA Investment Management LLC grew its stake in ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after buying an additional 7,490 shares during the last quarter. Prospera Financial Services Inc raised its holdings in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after acquiring an additional 13,595 shares during the period. Pacer Advisors Inc. lifted its position in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares during the last quarter. Finally, TCW Group Inc. boosted its holdings in shares of ConocoPhillips by 37.8% during the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after acquiring an additional 8,231 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $112.19 on Monday. The stock has a market cap of $129.12 billion, a PE ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21. 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 has a 12-month low of $101.29 and a 12-month high of $135.18. The business’s 50-day moving average price is $108.91 and its two-hundred day moving average price is $111.23.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.16 EPS. As a group, analysts expect that ConocoPhillips will post 7.78 earnings per share for the current fiscal 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 dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.78%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent research reports. 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. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. BMO Capital Markets upped their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Scotiabank dropped 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, Mizuho raised their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

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.