ConocoPhillips (NYSE:COP) Position Increased by Whittier Trust Co.

Whittier Trust Co. grew its position in shares of ConocoPhillips (NYSE:COP) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,093 shares of the energy producer’s stock after buying an additional 596 shares during the quarter. Whittier Trust Co.’s holdings in ConocoPhillips were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. raised its position in shares of ConocoPhillips by 5.6% in the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after purchasing an additional 1,390 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of ConocoPhillips in the second quarter worth about $30,021,000. EP Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after purchasing an additional 4,578 shares during the last quarter. Norden Group LLC boosted its stake in ConocoPhillips by 2,634.9% during the 1st quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock valued at $15,838,000 after purchasing an additional 119,890 shares during the period. Finally, Alpha DNA Investment Management LLC grew its holdings 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. 82.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $104.99 on Wednesday. The firm’s 50-day moving average price is $108.84 and its two-hundred day moving average price is $114.28. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The stock has a market capitalization of $121.92 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 0.85 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter last year, the company posted $1.84 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts predict that ConocoPhillips will post 7.95 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.86%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Susquehanna reduced their price objective on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a research report on Friday, October 18th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a report on Friday. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.94.

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.