Pine Valley Investments Ltd Liability Co Reduces Position in ConocoPhillips (NYSE:COP)

Pine Valley Investments Ltd Liability Co trimmed its position in ConocoPhillips (NYSE:COP) by 4.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,767 shares of the energy producer’s stock after selling 400 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in ConocoPhillips were worth $818,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the third quarter worth about $26,000. Stephens Consulting LLC increased its position in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC bought a new position in ConocoPhillips in the 3rd quarter worth $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $100.92 on Friday. ConocoPhillips has a 12-month low of $100.87 and a 12-month high of $135.18. The firm has a market capitalization of $116.15 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $108.03 and a 200 day moving average of $109.85.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. During the same quarter last year, the company posted $2.16 EPS. The company’s revenue was down 8.5% compared to the same quarter last year. On average, research analysts anticipate that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.09%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analysts Set New Price Targets

Several research firms have weighed in on COP. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Truist Financial dropped their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, UBS Group lowered their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.18.

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.