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

Banco Santander S.A. trimmed its stake in ConocoPhillips (NYSE:COP) by 87.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,987 shares of the energy producer’s stock after selling 90,442 shares during the quarter. Banco Santander S.A.’s holdings in ConocoPhillips were worth $1,367,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research firms recently issued reports on COP. Truist Financial lowered their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. reaffirmed 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. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Scotiabank lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Susquehanna lifted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Trading Down 0.1 %

ConocoPhillips stock opened at $111.75 on Friday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The firm has a market capitalization of $128.61 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21. The firm has a 50 day moving average of $108.91 and a 200 day moving average of $111.40. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data 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. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the company posted $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, research analysts predict that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a $0.78 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.79%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is presently 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.