TCV Trust & Wealth Management Inc. Lowers Position in ConocoPhillips (NYSE:COP)

TCV Trust & Wealth Management Inc. trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,390 shares of the energy producer’s stock after selling 151 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in ConocoPhillips were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of COP. Manchester Capital Management LLC grew its stake in shares of ConocoPhillips by 22.1% during the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after purchasing an additional 86 shares in the last quarter. Vicus Capital increased its holdings in shares of ConocoPhillips by 3.7% in the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock valued at $302,000 after acquiring an additional 94 shares during the last quarter. Montag A & Associates Inc. raised its position in shares of ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after acquiring an additional 96 shares in the last quarter. Excalibur Management Corp lifted its stake in ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after purchasing an additional 96 shares during the last quarter. Finally, First Hawaiian Bank increased its stake in ConocoPhillips by 0.3% in the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock valued at $4,202,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.2 %

Shares of NYSE:COP opened at $104.56 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a market cap of $122.29 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.84 and a beta of 1.21. The stock’s 50-day moving average price is $108.47 and its two-hundred day moving average price is $113.68. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 earnings per share. On average, research analysts forecast that ConocoPhillips will post 7.95 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. ConocoPhillips’s payout ratio is 26.27%.

Insider Buying and Selling

In other 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 transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on COP. Barclays dropped their target price on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Wolfe Research began coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Truist Financial cut 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.94.

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.