ConocoPhillips (NYSE:COP) Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. cut its holdings in shares of ConocoPhillips (NYSE:COP) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,232 shares of the energy producer’s stock after selling 225 shares during the period. ZWJ Investment Counsel Inc.’s holdings in ConocoPhillips were worth $656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COP. Alaska Permanent Fund Corp acquired a new stake in ConocoPhillips during the first quarter valued at approximately $143,000. Wedmont Private Capital lifted its stake in ConocoPhillips by 2.4% during the first quarter. Wedmont Private Capital now owns 14,862 shares of the energy producer’s stock valued at $1,965,000 after purchasing an additional 353 shares during the last quarter. Sunflower Bank N.A. acquired a new stake in ConocoPhillips during the first quarter valued at approximately $220,000. Apella Capital LLC lifted its stake in ConocoPhillips by 3.5% during the first quarter. Apella Capital LLC now owns 3,227 shares of the energy producer’s stock valued at $427,000 after purchasing an additional 110 shares during the last quarter. Finally, Inscription Capital LLC lifted its position in shares of ConocoPhillips by 254.0% in the 1st quarter. Inscription Capital LLC now owns 24,675 shares of the energy producer’s stock valued at $3,263,000 after acquiring an additional 17,705 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP opened at $105.15 on Thursday. The company’s fifty day moving average is $109.11 and its 200-day moving average is $115.12. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The firm has a market cap of $122.98 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the prior year, the business posted $1.84 EPS. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.21%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analysts Set New Price Targets

COP has been the subject of several research analyst reports. Wolfe Research initiated coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Mizuho reduced their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Barclays reduced their price target on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Susquehanna reduced their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, Truist Financial reduced their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.12.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

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.