ConocoPhillips $COP Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,118 shares of the energy producer’s stock after selling 7,200 shares during the quarter. Manning & Napier Advisors LLC’s holdings in ConocoPhillips were worth $14,634,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in COP. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips during the fourth quarter worth approximately $25,000. Strive Asset Management LLC purchased a new position in ConocoPhillips in the third quarter valued at approximately $28,000. Board of the Pension Protection Fund purchased a new position in ConocoPhillips in the fourth quarter valued at approximately $28,000. KERR FINANCIAL PLANNING Corp acquired a new stake in ConocoPhillips during the third quarter worth approximately $28,000. Finally, Whipplewood Advisors LLC raised its holdings in ConocoPhillips by 216.7% during the first quarter. Whipplewood Advisors LLC now owns 323 shares of the energy producer’s stock worth $43,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COP. Royal Bank Of Canada set a $130.00 target price on shares of ConocoPhillips in a report on Monday, June 22nd. Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Argus raised their price objective on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Piper Sandler raised their price target on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.04.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $1.04 on Friday, reaching $109.06. The company’s stock had a trading volume of 6,977,036 shares, compared to its average volume of 7,638,942. The stock’s 50-day moving average is $114.15 and its two-hundred day moving average is $112.66. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $132.86 billion, a P/E ratio of 18.52, a PEG ratio of 1.29 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that ConocoPhillips will post 9.28 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.