ConocoPhillips $COP Stock Sold by Ninety One SA Pty Ltd

Ninety One SA Pty Ltd trimmed its holdings in ConocoPhillips (NYSE:COP) by 4.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 120,514 shares of the energy producer’s stock after selling 5,511 shares during the period. ConocoPhillips accounts for approximately 0.8% of Ninety One SA Pty Ltd’s portfolio, making the stock its 19th largest position. Ninety One SA Pty Ltd’s holdings in ConocoPhillips were worth $15,103,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC grew its holdings in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips during the 4th quarter valued at approximately $25,000. Ballast Advisors LLC purchased a new stake in ConocoPhillips during the 1st quarter valued at approximately $36,000. Evergreen Advisors LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $36,000. Finally, Allied Private Wealth LLC acquired a new stake in ConocoPhillips during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Stock Performance

NYSE:COP traded down $0.03 during mid-day trading on Thursday, reaching $142.31. The stock had a trading volume of 2,583,432 shares, compared to its average volume of 8,044,803. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $143.13. The business has a 50 day simple moving average of $131.03 and a 200 day simple moving average of $122.22. The firm has a market capitalization of $170.96 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.44 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter in the previous year, the firm posted $1.42 EPS. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. On average, analysts expect that ConocoPhillips will post 10.84 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Ratings Changes

Several brokerages have weighed in on COP. Morgan Stanley lifted their target price on ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday. Jefferies Financial Group upped their price target on ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Seaport Research Partners began coverage on ConocoPhillips in a report on Thursday, September 3rd. They set a “neutral” rating for the company. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a report on Monday, June 22nd. Finally, Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $143.62.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.