ConocoPhillips (NYSE:COP) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC decreased its position in ConocoPhillips (NYSE:COP) by 22.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 370,108 shares of the energy producer’s stock after selling 107,067 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in ConocoPhillips were worth $36,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT raised its stake in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips in the 4th quarter valued at about $27,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter valued at about $32,000. Finally, Marshall Investment Management LLC purchased a new stake in ConocoPhillips in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.9%

Shares of NYSE:COP opened at $89.63 on Wednesday. The stock has a market capitalization of $113.31 billion, a P/E ratio of 11.51, a PEG ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $121.73. The stock has a 50-day simple moving average of $92.96 and a 200-day simple moving average of $98.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. During the same period in the previous year, the company posted $2.05 earnings per share. Equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.48%. ConocoPhillips’s payout ratio is currently 39.64%.

Analysts Set New Price Targets

Several analysts have commented on the company. Royal Bank of Canada lowered their price target on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Piper Sandler lowered their price target on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Susquehanna lowered their price target on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a report on Monday, May 12th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.95.

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.