Wrapmanager Inc. Sells 232 Shares of ConocoPhillips (NYSE:COP)

Wrapmanager Inc. decreased its stake in ConocoPhillips (NYSE:COP) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,935 shares of the energy producer’s stock after selling 232 shares during the period. Wrapmanager Inc.’s holdings in ConocoPhillips were worth $414,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of COP. Bahl & Gaynor Inc. grew its holdings in ConocoPhillips by 12.0% during the first quarter. Bahl & Gaynor Inc. now owns 4,043 shares of the energy producer’s stock worth $515,000 after purchasing an additional 434 shares during the period. Lake Street Advisors Group LLC grew its holdings in ConocoPhillips by 110.7% during the first quarter. Lake Street Advisors Group LLC now owns 7,853 shares of the energy producer’s stock worth $1,000,000 after purchasing an additional 4,126 shares during the period. National Bank of Canada FI grew its holdings in ConocoPhillips by 42.1% during the first quarter. National Bank of Canada FI now owns 417,952 shares of the energy producer’s stock worth $50,952,000 after purchasing an additional 123,754 shares during the period. Pitcairn Co. grew its holdings in ConocoPhillips by 2.2% during the first quarter. Pitcairn Co. now owns 15,235 shares of the energy producer’s stock worth $1,939,000 after purchasing an additional 328 shares during the period. Finally, InterOcean Capital Group LLC grew its holdings in ConocoPhillips by 7.4% during the first quarter. InterOcean Capital Group LLC now owns 7,299 shares of the energy producer’s stock worth $929,000 after purchasing an additional 500 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of several research reports. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Mizuho lifted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Truist Financial dropped their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $113.76 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The stock has a market cap of $130.93 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.92 and a beta of 1.21. The company’s fifty day moving average is $108.17 and its 200 day moving average is $111.53.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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 company 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%. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 dividend on an annualized basis and a yield of 2.74%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 37.10%.

ConocoPhillips 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.