Los Angeles Capital Management LLC Has $2 Million Position in ConocoPhillips (NYSE:COP)

Los Angeles Capital Management LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 85.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,021 shares of the energy producer’s stock after selling 111,271 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ConocoPhillips were worth $2,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Vicus Capital grew its holdings in shares of ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after purchasing an additional 94 shares in the last quarter. Montag A & Associates Inc. lifted its position in ConocoPhillips by 2.5% in the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after purchasing an additional 96 shares during the period. Excalibur Management Corp boosted its stake in ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after buying an additional 96 shares in the last quarter. First Hawaiian Bank increased its holdings in ConocoPhillips by 0.3% in the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock valued at $4,202,000 after buying an additional 97 shares during the period. Finally, Bank OZK raised its stake in shares of ConocoPhillips by 1.6% in the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock valued at $715,000 after buying an additional 97 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 1.1 %

NYSE COP opened at $111.82 on Thursday. The stock has a market capitalization of $128.69 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a fifty day moving average of $107.71 and a 200-day moving average of $111.90.

ConocoPhillips (NYSE:COP) last announced 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. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the company earned $2.16 earnings per share. The company’s revenue was down 8.5% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

Analysts Set New Price Targets

A number of research firms recently weighed in on COP. Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. UBS Group decreased their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, Truist Financial reduced their target price 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 given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.47.

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.