Disciplined Investments LLC Sells 1,701 Shares of ConocoPhillips $COP

Disciplined Investments LLC decreased its stake in ConocoPhillips (NYSE:COP) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,324 shares of the energy producer’s stock after selling 1,701 shares during the period. ConocoPhillips accounts for about 1.4% of Disciplined Investments LLC’s holdings, making the stock its 22nd biggest position. Disciplined Investments LLC’s holdings in ConocoPhillips were worth $3,260,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in COP. Charles Schwab Investment Management Inc. raised its position in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Wellington Management Group LLP raised its position in shares of ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after purchasing an additional 437,709 shares during the period. Goldman Sachs Group Inc. raised its position in shares of ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after purchasing an additional 2,080,625 shares during the period. Ameriprise Financial Inc. raised its position in shares of ConocoPhillips by 15.1% in the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after purchasing an additional 1,073,906 shares during the period. Finally, Nuveen LLC bought a new stake in ConocoPhillips during the 1st quarter worth approximately $658,981,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.4%

NYSE:COP opened at $86.53 on Friday. The firm has a 50-day simple moving average of $94.04 and a two-hundred day simple moving average of $91.93. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The firm has a market cap of $108.07 billion, a P/E ratio of 11.61, a P/E/G ratio of 2.32 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS 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 firm 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 posted $1.98 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on COP shares. Piper Sandler decreased their target price on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Wells Fargo & Company began coverage on shares of ConocoPhillips in a report on Friday. They issued an “equal weight” rating and a $100.00 price target on the stock. Mizuho decreased their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Raymond James Financial cut their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Finally, Wall Street Zen cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday. Seventeen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $115.00.

ConocoPhillips Company 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.