Wrapmanager Inc. Has $414,000 Stock Position in ConocoPhillips (NYSE:COP)

Wrapmanager Inc. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,935 shares of the energy producer’s stock after selling 232 shares during the quarter. Wrapmanager Inc.’s holdings in ConocoPhillips were worth $414,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in COP. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth about $26,000. Stephens Consulting LLC raised its holdings in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the 2nd quarter valued at about $35,000. Finally, Fairway Wealth LLC increased its stake in ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on COP shares. BMO Capital Markets increased their price objective 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. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Mizuho increased their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Truist Financial decreased their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Susquehanna increased their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Trading Up 1.3 %

Shares of ConocoPhillips stock opened at $113.76 on Tuesday. The company has a 50 day simple moving average of $108.17 and a two-hundred day simple moving average of $111.53. The firm has a market cap of $130.93 billion, a PE ratio of 13.53, a PEG ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 EPS. Analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.74%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.