Cedar Brook Financial Partners LLC reduced its stake in ConocoPhillips (NYSE: COP – Get Rating) by 9.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,115 shares of the energy producer’s stock after selling 331 shares during the quarter. Cedar Brook Financial Partners LLC’s holdings in ConocoPhillips were worth $ 312,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Morgan Stanley increased its stake in ConocoPhillips by 1.9% during the 2nd quarter. Morgan Stanley now owns 9,008,903 shares of the energy producer’s stock worth $ 548,643,000 after buying an additional 165,817 shares during the period. LPL Financial LLC increased its stake in ConocoPhillips by 12.9% during the 3rd quarter. LPL Financial LLC now owns 455,926 shares of the energy producer’s stock worth $ 30,898,000 after buying an additional 51,924 shares during the period. Two Sigma Investments LP increased its stake in ConocoPhillips by 50.6% during the 3rd quarter. Two Sigma Investments LP now owns 8,732 shares of the energy producer’s stock worth $ 592,000 after buying an additional 2,932 shares during the period. SeaCrest Wealth Management LLC increased its stake in ConocoPhillips by 2.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 12,200 shares of the energy producer’s stock worth $ 827,000 after buying an additional 308 shares during the period. Finally, FinTrust Capital Advisors LLC increased its stake in ConocoPhillips by 11.6% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 4,987 shares of the energy producer’s stock worth $ 338,000 after buying an additional 518 shares during the period. Hedge funds and other institutional investors own 78.80% of the company stock.
COP stock opened at $ 93.74 on Tuesday. ConocoPhillips has a one year low of $ 51.41 and a one year high of $ 124.08. The stock has a market capitalization of $ 121.25 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 0.33 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.51. The company has a fifty day moving average of $ 105.20 and a 200-day moving average of $ 94.17.
ConocoPhillips (NYSE: COP – Get Rating) last released its earnings results on Thursday, May 5th. The energy producer reported $ 3.27 EPS for the quarter, topping the consensus estimate of $ 3.24 by $ 0.03. The company had revenue of $ 19.29 billion during the quarter, compared to analysts’ expectations of $ 18.36 billion. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The business’s revenue was up 82.7% on a year-over-year basis. During the same quarter last year, the business earned $ 0.69 EPS. Equities analysts forecast that ConocoPhillips will post 15 earnings per share for the current fiscal year.
The business also recently announced a dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, June 28th will be issued a $ 0.70 dividend. This represents a dividend yield of 3.21%. The ex-dividend date is Monday, June 27th. This is an increase from ConocoPhillips’s previous dividend of $ 0.30. ConocoPhillips’s dividend payout ratio (DPR) is currently 18.97%.
In other ConocoPhillips news, Director Timothy A. Leach sold 40,603 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $ 102.33, for a total transaction of $ 4,154,904.99. Following the completion of the transaction, the director now directly owns 666,002 shares in the company, valued at approximately $ 68,151,984.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 584,900 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $ 121.21, for a total transaction of $ 70,895,729.00. Following the transaction, the chief executive officer now owns 44,522 shares of the company stock, valued at $ 5,396,511.62. The disclosure for this sale can be found here. Insiders sold a total of 644,703 shares of company stock valued at $ 77,172,426 in the last quarter. Insiders own 0.40% of the company stock.
A number of brokerages have commented on COP. Raymond James increased their price objective on shares of ConocoPhillips from $ 120.00 to $ 160.00 and gave the company a “strong-buy” rating in a research report on Monday, April 25th. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $ 114.00 to $ 130.00 and gave the company an “overweight” rating in a research report on Friday, March 11th. Barclays increased their price objective on shares of ConocoPhillips from $ 132.00 to $ 142.00 and gave the company an “overweight” rating in a research report on Tuesday, June 14th. Morgan Stanley dropped their price objective on shares of ConocoPhillips from $ 120.00 to $ 118.00 and set an “overweight” rating on the stock in a research report on Monday, June 6th. Finally, Truist Financial increased their target price on shares of ConocoPhillips from $ 115.00 to $ 130.00 in a research report on Thursday, April 21st. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $ 108.61.
About ConocoPhillips: (Get Rating)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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