QRG Capital Management Inc. Buys 482 Shares of ConocoPhillips (NYSE:COP)

QRG Capital Management Inc. raised its position in shares of ConocoPhillips (NYSE:COP) by 0.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 195,024 shares of the energy producer’s stock after purchasing an additional 482 shares during the quarter. QRG Capital Management Inc.’s holdings in ConocoPhillips were worth $20,532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COP. Diversify Advisory Services LLC bought a new position in ConocoPhillips during the 1st quarter valued at $385,000. Lincoln National Corp boosted its holdings in shares of ConocoPhillips by 2.7% in the 1st quarter. Lincoln National Corp now owns 23,555 shares of the energy producer’s stock worth $2,998,000 after buying an additional 624 shares during the last quarter. Whittier Trust Co. raised its stake in ConocoPhillips by 11.7% in the 1st quarter. Whittier Trust Co. now owns 19,734 shares of the energy producer’s stock valued at $2,512,000 after acquiring an additional 2,060 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in ConocoPhillips by 4.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 14,463 shares of the energy producer’s stock valued at $1,841,000 after acquiring an additional 660 shares during the period. Finally, Smith Salley Wealth Management bought a new stake in ConocoPhillips in the 1st quarter valued at about $786,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $1.64 during trading on Monday, hitting $109.48. 324,508 shares of the company’s stock traded hands, compared to its average volume of 5,881,936. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.19. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a market capitalization of $127.13 billion, a P/E ratio of 12.82, a PEG ratio of 0.90 and a beta of 1.21. The business has a 50-day simple moving average of $107.94 and a 200-day simple moving average of $112.80.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the firm earned $2.16 EPS. The business’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, analysts forecast that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.85%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial decreased 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Mizuho upped their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Sanford C. Bernstein decreased their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.47.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.

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.