ConocoPhillips $COP Holdings Decreased by Bailard Inc.

Bailard Inc. reduced its holdings in ConocoPhillips (NYSE:COP) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,603 shares of the energy producer’s stock after selling 16,163 shares during the period. Bailard Inc.’s holdings in ConocoPhillips were worth $16,705,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of ConocoPhillips by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after purchasing an additional 287,970 shares during the period. Fisher Asset Management LLC lifted its position in ConocoPhillips by 1.6% in the 2nd quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock worth $1,291,706,000 after buying an additional 224,201 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of ConocoPhillips by 31.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock valued at $966,267,000 after buying an additional 2,575,803 shares during the period. Primecap Management Co. CA grew its holdings in shares of ConocoPhillips by 66.0% during the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after acquiring an additional 3,135,315 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of ConocoPhillips by 4.0% during the 2nd quarter. Boston Partners now owns 6,424,232 shares of the energy producer’s stock valued at $577,471,000 after acquiring an additional 244,810 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $95.44 on Wednesday. The firm has a fifty day simple moving average of $92.95 and a 200-day simple moving average of $92.94. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $106.20. The stock has a market capitalization of $117.93 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 2.73 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. ConocoPhillips’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $1.78 EPS. On average, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a $0.84 dividend. The ex-dividend date was Monday, November 17th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.5%. ConocoPhillips’s dividend payout ratio is presently 47.52%.

Analysts Set New Price Targets

Several analysts recently issued reports on COP shares. Johnson Rice lowered ConocoPhillips from an “accumulate” rating to a “hold” rating and cut their price objective for the stock from $108.00 to $105.00 in a report on Friday, December 5th. Roth Capital dropped their target price on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a report on Monday, December 29th. Royal Bank Of Canada increased their price objective on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Finally, Piper Sandler cut their price objective on shares of ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.83.

Insider Activity

In other ConocoPhillips news, Director William H. Mcraven purchased 5,768 shares of the company’s stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at $30,152,410. This represents a 60.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.