Asset Dedication LLC Buys 102 Shares of ConocoPhillips (NYSE:COP)

Asset Dedication LLC lifted its position in ConocoPhillips (NYSE:COP) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,202 shares of the energy producer’s stock after acquiring an additional 102 shares during the period. Asset Dedication LLC’s holdings in ConocoPhillips were worth $442,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares during the period. Capital International Investors grew its holdings in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after purchasing an additional 1,856,085 shares during the period. Legal & General Group Plc increased its position in ConocoPhillips by 4.6% during the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after buying an additional 438,241 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in ConocoPhillips by 2.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock valued at $653,065,000 after buying an additional 109,885 shares during the period. Finally, Boston Partners lifted its position in shares of ConocoPhillips by 10.3% in the first quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock valued at $567,111,000 after buying an additional 415,878 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is owned by insiders.

ConocoPhillips Stock Down 0.1 %

COP stock opened at $105.15 on Thursday. The company has a market cap of $122.98 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The business has a 50-day simple moving average of $109.11 and a 200 day simple moving average of $115.12.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate 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 revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 EPS. Sell-side analysts anticipate that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.21%. ConocoPhillips’s payout ratio is 26.27%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Truist Financial cut their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. BMO Capital Markets upped their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Wolfe Research started coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $137.12.

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.