Dimensional Fund Advisors LP Sells 65,929 Shares of ConocoPhillips (NYSE:COP)

Dimensional Fund Advisors LP cut its holdings in ConocoPhillips (NYSE:COP) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,955,465 shares of the energy producer’s stock after selling 65,929 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.95% of ConocoPhillips worth $1,255,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. 10Elms LLP purchased a new stake in ConocoPhillips in the fourth quarter worth about $28,000. Financial Network Wealth Advisors LLC lifted its holdings in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC purchased a new stake in ConocoPhillips in the first quarter worth about $31,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the first quarter worth about $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in ConocoPhillips in the first quarter worth about $37,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on COP. Morgan Stanley restated an “overweight” rating and issued a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a report on Sunday. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Royal Bank Of Canada lowered their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, July 11th. UBS Group raised their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, Piper Sandler reiterated an “overweight” rating and set a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.84.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $95.74 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The firm has a market cap of $119.57 billion, a P/E ratio of 12.85, a PEG ratio of 2.50 and a beta of 0.67. The company has a 50 day moving average of $93.45 and a 200 day moving average of $93.51. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the business earned $1.98 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by insiders.

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.