Wilkinson Global Asset Management LLC Sells 666 Shares of ConocoPhillips (NYSE:COP)

Wilkinson Global Asset Management LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 19.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,679 shares of the energy producer’s stock after selling 666 shares during the period. Wilkinson Global Asset Management LLC’s holdings in ConocoPhillips were worth $282,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Manchester Capital Management LLC grew its holdings in shares of ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares during the period. Vicus Capital grew its stake in shares of ConocoPhillips by 3.7% in the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock valued at $302,000 after buying an additional 94 shares during the period. Montag A & Associates Inc. increased its holdings in shares of ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after buying an additional 96 shares during the last quarter. Excalibur Management Corp raised its position in shares of ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after buying an additional 96 shares during the period. Finally, First Hawaiian Bank lifted its holdings in ConocoPhillips by 0.3% in the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock valued at $4,202,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COP shares. Truist Financial reduced their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Mizuho upped their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Wolfe Research started coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.47.

ConocoPhillips Stock Up 4.0 %

Shares of ConocoPhillips stock opened at $113.60 on Thursday. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a 50 day moving average of $107.81 and a 200 day moving average of $112.53. The company has a market capitalization of $130.74 billion, a P/E ratio of 13.51, a P/E/G ratio of 0.89 and a beta of 1.21. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.16 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 7.79 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by company 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.