Sheaff Brock Investment Advisors LLC Sells 265 Shares of ConocoPhillips (NYSE:COP)

Sheaff Brock Investment Advisors LLC decreased its stake in ConocoPhillips (NYSE:COP) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,116 shares of the energy producer’s stock after selling 265 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in ConocoPhillips were worth $749,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in COP. Cornercap Investment Counsel Inc. bought a new position in shares of ConocoPhillips in the third quarter worth about $1,388,000. CIBC Asset Management Inc grew its holdings in ConocoPhillips by 4.8% during the 3rd quarter. CIBC Asset Management Inc now owns 262,152 shares of the energy producer’s stock worth $27,599,000 after acquiring an additional 12,024 shares during the period. Balboa Wealth Partners bought a new position in ConocoPhillips during the third quarter worth about $243,000. Oak Harbor Wealth Partners LLC grew its position in shares of ConocoPhillips by 10.8% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 2,050 shares of the energy producer’s stock worth $216,000 after buying an additional 200 shares during the period. Finally, Sargent Investment Group LLC grew its holdings in ConocoPhillips by 19.0% during the third quarter. Sargent Investment Group LLC now owns 12,556 shares of the energy producer’s stock valued at $1,322,000 after purchasing an additional 2,008 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.5 %

Shares of ConocoPhillips stock opened at $112.32 on Friday. The stock has a market cap of $129.27 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.91 and a beta of 1.21. The firm’s 50-day moving average is $108.01 and its two-hundred day moving average is $111.78. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the company posted $2.16 EPS. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, research analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.78%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COP. Truist Financial cut their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Scotiabank dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Barclays lifted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $137.63.

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.