Cadence Bank Sells 515 Shares of ConocoPhillips (NYSE:COP)

Cadence Bank reduced its holdings in ConocoPhillips (NYSE:COP) by 1.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 35,199 shares of the energy producer’s stock after selling 515 shares during the period. Cadence Bank’s holdings in ConocoPhillips were worth $3,706,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Fisher Asset Management LLC increased its holdings in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares during the period. Legal & General Group Plc lifted its stake in shares of ConocoPhillips by 4.6% in the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after acquiring an additional 438,241 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of ConocoPhillips by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,096,450 shares of the energy producer’s stock worth $747,114,000 after acquiring an additional 153,944 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in ConocoPhillips by 19.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock valued at $717,093,000 after acquiring an additional 1,101,685 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after purchasing an additional 4,504,653 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.7 %

Shares of COP stock opened at $106.80 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a market capitalization of $122.92 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a 50-day simple moving average of $108.89 and a two-hundred day simple moving average of $111.01.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same period last year, the business posted $2.16 earnings per share. Research analysts anticipate that ConocoPhillips will post 7.76 EPS 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 paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.92%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of analyst reports. Barclays upped their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, UBS Group reduced their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Six investment 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 stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $137.63.

About ConocoPhillips

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.