Ancora Advisors LLC Sells 134 Shares of ConocoPhillips (NYSE:COP)

Ancora Advisors LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,364 shares of the energy producer’s stock after selling 134 shares during the period. Ancora Advisors LLC’s holdings in ConocoPhillips were worth $2,974,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Sachetta LLC bought a new position in ConocoPhillips in the 4th quarter worth about $27,000. Cooksen Wealth LLC purchased a new position in ConocoPhillips in the 4th quarter worth about $27,000. Cape Investment Advisory Inc. raised its position in ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares during the last quarter. Richardson Capital Management LLC purchased a new position in ConocoPhillips in the 1st quarter worth about $31,000. Finally, Northwest Bank & Trust Co purchased a new position in ConocoPhillips in the 4th quarter worth about $32,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on COP shares. Wells Fargo & Company boosted their target price on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Scotiabank decreased their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Barclays upped their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Truist Financial reduced their price target on shares of ConocoPhillips from $165.00 to $147.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Susquehanna upped their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded up $1.64 during trading on Wednesday, reaching $111.55. The company’s stock had a trading volume of 5,518,134 shares, compared to its average volume of 5,605,384. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $105.77 and a 12-month high of $135.18. The company has a market capitalization of $130.46 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. The business has a 50 day moving average price of $113.31 and a 200-day moving average price of $117.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.73 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

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.