ConocoPhillips (NYSE:COP) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in ConocoPhillips (NYSE:COP) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,363,161 shares of the energy producer’s stock after selling 84,147 shares during the period. Victory Capital Management Inc.’s holdings in ConocoPhillips were worth $143,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in COP. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter valued at $26,000. Stephens Consulting LLC increased its holdings in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at $31,000. Y.D. More Investments Ltd acquired a new position in shares of ConocoPhillips during the second quarter valued at $35,000. Finally, Fairway Wealth LLC increased its holdings in shares of ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 1.3 %

COP opened at $110.64 on Wednesday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The business has a 50-day moving average of $107.69 and a 200-day moving average of $112.04. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market capitalization of $127.34 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping 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 company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the business earned $2.16 EPS. The business’s quarterly revenue was down 8.5% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.82%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on COP shares. Truist Financial lowered their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. BMO Capital Markets raised their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Mizuho raised their target price on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.47.

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.