ConocoPhillips $COP Shares Sold by Findlay Park Partners LLP

Findlay Park Partners LLP cut its position in shares of ConocoPhillips (NYSE:COP) by 3.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,770,771 shares of the energy producer’s stock after selling 64,300 shares during the period. ConocoPhillips accounts for 1.6% of Findlay Park Partners LLP’s holdings, making the stock its 27th biggest position. Findlay Park Partners LLP’s holdings in ConocoPhillips were worth $158,909,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of COP. Financial Network Wealth Advisors LLC lifted its holdings in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC acquired a new position in shares of ConocoPhillips in the 1st quarter valued at $31,000. Bogart Wealth LLC grew its position in ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management grew its holdings in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after purchasing an additional 232 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after buying an additional 293 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $87.18 on Thursday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $108.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a fifty day moving average price of $90.09 and a 200 day moving average price of $91.87. The company has a market cap of $107.73 billion, a P/E ratio of 11.70, a PEG ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. The business had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 earnings per share. On average, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s dividend payout ratio is presently 47.52%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COP shares. Raymond James Financial lowered their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. BMO Capital Markets lowered their price target on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Wolfe Research reiterated an “outperform” rating and issued a $131.00 price objective on shares of ConocoPhillips in a report on Thursday, November 6th. Royal Bank Of Canada upped their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $115.00 target price on shares of ConocoPhillips in a research report on Monday. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $115.16.

Insider Activity

In other ConocoPhillips news, Director William H. Mcraven acquired 5,768 shares of ConocoPhillips stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the transaction, the director owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

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.