ConocoPhillips $COP Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its position in ConocoPhillips (NYSE:COP) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 430,041 shares of the energy producer’s stock after selling 35,691 shares during the quarter. Nisa Investment Advisors LLC’s holdings in ConocoPhillips were worth $38,592,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Tritonpoint Wealth LLC raised its stake in ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after acquiring an additional 110 shares during the last quarter. Iowa State Bank raised its position in ConocoPhillips by 0.5% in the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after acquiring an additional 110 shares in the last quarter. First National Bank Sioux Falls boosted its position in shares of ConocoPhillips by 4.6% during the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after purchasing an additional 113 shares in the last quarter. KLCM Advisors Inc. grew its stake in shares of ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after purchasing an additional 115 shares during the period. Finally, Fairvoy Private Wealth LLC boosted its holdings in ConocoPhillips by 3.5% during the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 2.3%

COP opened at $88.01 on Friday. The firm has a market capitalization of $109.92 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.35 and a beta of 0.62. The firm’s 50 day moving average is $93.32 and its 200-day moving average is $91.98. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 EPS. Analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.5%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Analyst Ratings Changes

Several research analysts have recently weighed in on COP shares. Roth Capital cut their price objective on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Barclays dropped their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Piper Sandler dropped their price target on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, October 13th. Wall Street Zen lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Wells Fargo & Company began coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price for the company. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $115.63.

ConocoPhillips 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.