Virtue Capital Management LLC Has $524,000 Stock Position in ConocoPhillips (NYSE:COP)

Virtue Capital Management LLC lessened its position in ConocoPhillips (NYSE:COP) by 8.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,975 shares of the energy producer’s stock after selling 435 shares during the period. Virtue Capital Management LLC’s holdings in ConocoPhillips were worth $524,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Values First Advisors Inc. acquired a new stake in ConocoPhillips in the 3rd quarter valued at $26,000. Stephens Consulting LLC lifted its stake in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at about $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips during the second quarter worth about $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $102.20 on Thursday. The firm has a market cap of $117.62 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 0.85 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $108.43 and its 200-day moving average is $109.97. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business 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%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 EPS. Sell-side analysts predict that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.05%. ConocoPhillips’s dividend payout ratio is 37.10%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COP. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets raised their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Susquehanna upped their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Truist Financial dropped their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Barclays upped their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $139.18.

About ConocoPhillips

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.