Smith Anglin Financial LLC Increases Position in ConocoPhillips (NYSE:COP)

Smith Anglin Financial LLC raised its position in ConocoPhillips (NYSE:COP) by 17.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,023 shares of the energy producer’s stock after purchasing an additional 442 shares during the period. Smith Anglin Financial LLC’s holdings in ConocoPhillips were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Valued Wealth Advisors LLC increased its position in shares of ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its position in shares of ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares during the last quarter. Adirondack Trust Co. boosted its holdings in shares of ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after buying an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC boosted its holdings in shares of ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after buying an additional 90 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 0.2 %

Shares of ConocoPhillips stock opened at $114.72 on Tuesday. The company has a market cap of $134.17 billion, a P/E ratio of 12.99, a PEG ratio of 0.87 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The firm has a fifty day moving average of $108.77 and a two-hundred day moving average of $115.94.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.84 EPS. On average, analysts forecast that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.02%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COP shares. Barclays lowered their target price on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Truist Financial lowered their target price 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. Sanford C. Bernstein lowered their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.29.

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.