United Services Automobile Association Has $16.87 Million Stock Holdings in ConocoPhillips (NYSE:COP)

United Services Automobile Association lowered its stake in shares of ConocoPhillips (NYSE:COP) by 24.1% during the third quarter, Holdings Channel reports. The fund owned 160,234 shares of the energy producer’s stock after selling 50,757 shares during the period. United Services Automobile Association’s holdings in ConocoPhillips were worth $16,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpha DNA Investment Management LLC increased its position in ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after purchasing an additional 7,490 shares during the period. Prospera Financial Services Inc raised its position in shares of ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after acquiring an additional 13,595 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after purchasing an additional 46,621 shares during the period. Pacer Advisors Inc. boosted its position in shares of ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Finally, TCW Group Inc. grew its stake in shares of ConocoPhillips by 37.8% during the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after purchasing an additional 8,231 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on COP shares. BMO Capital Markets raised their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Susquehanna increased their price objective 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. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Truist Financial lowered their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Mizuho upped their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $139.06.

ConocoPhillips Stock Performance

NYSE COP opened at $103.22 on Friday. The stock has a market cap of $118.80 billion, a PE ratio of 12.27, a PEG ratio of 0.85 and a beta of 1.18. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm’s fifty day moving average price is $108.64 and its two-hundred day moving average price is $110.43.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $13.97 billion. During the same period in the previous year, the business earned $2.16 EPS. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, equities analysts expect that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company 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. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 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.