Courier Capital LLC reduced its holdings in ConocoPhillips (NYSE:COP – Free Report) by 62.0% in the third quarter, HoldingsChannel reports. The firm owned 6,294 shares of the energy producer’s stock after selling 10,267 shares during the period. Courier Capital LLC’s holdings in ConocoPhillips were worth $788,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in COP. Accel Wealth Management grew its holdings in ConocoPhillips by 65.8% in the third quarter. Accel Wealth Management now owns 5,655 shares of the energy producer’s stock worth $708,000 after purchasing an additional 2,244 shares during the period. Euro Pacific Asset Management LLC bought a new stake in ConocoPhillips in the third quarter valued at $210,000. First County Bank CT increased its stake in ConocoPhillips by 43.3% in the third quarter. First County Bank CT now owns 8,045 shares of the energy producer’s stock valued at $1,007,000 after purchasing an additional 2,430 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in ConocoPhillips by 70.6% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 16,108 shares of the energy producer’s stock valued at $2,016,000 after purchasing an additional 6,665 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of ConocoPhillips by 94.5% during the third quarter. NorthCrest Asset Manangement LLC now owns 78,901 shares of the energy producer’s stock valued at $9,874,000 after purchasing an additional 38,329 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Analysis on COP
ConocoPhillips Stock Up 2.5%
Shares of ConocoPhillips stock traded up $3.46 during trading hours on Tuesday, reaching $141.02. The company’s stock had a trading volume of 6,523,719 shares, compared to its average volume of 8,085,873. The company has a market capitalization of $169.42 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.38 and a beta of 0.24. The stock’s fifty day simple moving average is $130.02 and its two-hundred day simple moving average is $122.07. ConocoPhillips has a one year low of $85.57 and a one year high of $141.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. On average, research analysts forecast that ConocoPhillips will post 10.84 earnings per share for the current year.
ConocoPhillips Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.4%. ConocoPhillips’s payout ratio is 44.44%.
ConocoPhillips Profile
ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.
The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.
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