Banco Santander S.A. Sells 90,442 Shares of ConocoPhillips (NYSE:COP)

Banco Santander S.A. lessened its holdings in ConocoPhillips (NYSE:COP) by 87.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,987 shares of the energy producer’s stock after selling 90,442 shares during the period. Banco Santander S.A.’s holdings in ConocoPhillips were worth $1,367,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $46,000. LRI Investments LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at $198,000. Epoch Investment Partners Inc. lifted its holdings in shares of ConocoPhillips by 3.6% in the 1st quarter. Epoch Investment Partners Inc. now owns 18,872 shares of the energy producer’s stock worth $2,402,000 after acquiring an additional 660 shares during the last quarter. Ceeto Capital Group LLC raised its position in ConocoPhillips by 100.0% in the 1st quarter. Ceeto Capital Group LLC now owns 6,000 shares of the energy producer’s stock worth $764,000 after purchasing an additional 3,000 shares during the period. Finally, Evergreen Wealth Solutions LLC lifted its stake in ConocoPhillips by 2.9% in the first quarter. Evergreen Wealth Solutions LLC now owns 4,761 shares of the energy producer’s stock worth $606,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on COP. BMO Capital Markets increased their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Truist Financial reduced their price target 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. Barclays boosted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Stock Down 0.1 %

NYSE:COP opened at $111.75 on Friday. 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 market capitalization of $128.61 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21. The company’s 50-day simple moving average is $108.91 and its 200-day simple moving average is $111.40. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

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

ConocoPhillips Increases Dividend

The firm also recently declared 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. This represents a $3.12 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

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.