ConocoPhillips (NYSE:COP) Stock Position Boosted by Violich Capital Management Inc.

Violich Capital Management Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,014 shares of the energy producer’s stock after buying an additional 100 shares during the quarter. ConocoPhillips comprises 1.1% of Violich Capital Management Inc.’s holdings, making the stock its 24th biggest position. Violich Capital Management Inc.’s holdings in ConocoPhillips were worth $8,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Alaska Permanent Fund Corp acquired a new position in shares of ConocoPhillips in the 1st quarter worth approximately $143,000. Douglas Lane & Associates LLC lifted its stake in ConocoPhillips by 23.8% during the first quarter. Douglas Lane & Associates LLC now owns 4,397 shares of the energy producer’s stock valued at $560,000 after buying an additional 846 shares in the last quarter. Cooper Financial Group boosted its holdings in shares of ConocoPhillips by 5.3% in the first quarter. Cooper Financial Group now owns 2,495 shares of the energy producer’s stock worth $318,000 after buying an additional 125 shares during the period. CHICAGO TRUST Co NA purchased a new position in shares of ConocoPhillips in the first quarter worth approximately $269,000. Finally, AdvisorNet Financial Inc raised its holdings in shares of ConocoPhillips by 27.5% during the first quarter. AdvisorNet Financial Inc now owns 3,734 shares of the energy producer’s stock valued at $475,000 after acquiring an additional 806 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’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 transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COP. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Barclays lowered their target price on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Truist Financial dropped their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.94.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $105.67 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $109.01 and a 200-day simple moving average of $114.67. The stock has a market capitalization of $122.71 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.84 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 7.99 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend 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.