Transcend Capital Advisors LLC Lowers Position in ConocoPhillips (NYSE:COP)

Transcend Capital Advisors LLC lessened its stake in ConocoPhillips (NYSE:COPGet Rating) by 5.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,192 shares of the energy producer’s stock after selling 719 shares during the period. Transcend Capital Advisors LLC’s holdings in ConocoPhillips were worth $1,185,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in ConocoPhillips by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 111,099,502 shares of the energy producer’s stock worth $11,109,951,000 after purchasing an additional 1,146,552 shares in the last quarter. BlackRock Inc. lifted its position in shares of ConocoPhillips by 3.4% during the 4th quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock valued at $8,017,310,000 after buying an additional 3,652,817 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of ConocoPhillips by 1.1% during the 1st quarter. Wellington Management Group LLP now owns 37,616,360 shares of the energy producer’s stock valued at $3,761,636,000 after buying an additional 408,012 shares in the last quarter. Capital World Investors lifted its position in shares of ConocoPhillips by 62.4% during the 1st quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock valued at $2,346,309,000 after buying an additional 9,014,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of ConocoPhillips by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,353,857 shares of the energy producer’s stock valued at $1,235,451,000 after buying an additional 250,117 shares in the last quarter. Hedge funds and other institutional investors own 79.66% of the company’s stock.

Insider Buying and Selling

In related news, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total transaction of $1,275,894.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on COP shares. Morgan Stanley increased their target price on ConocoPhillips from $117.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, August 29th. Mizuho decreased their target price on ConocoPhillips from $148.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, August 18th. Truist Financial decreased their target price on ConocoPhillips from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Bank of America increased their price objective on ConocoPhillips from $134.00 to $140.00 and gave the company a “buy” rating in a research note on Monday. Finally, StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $121.79.

ConocoPhillips Stock Down 0.2 %

Shares of COP opened at $112.87 on Tuesday. The stock has a fifty day simple moving average of $100.18 and a two-hundred day simple moving average of $100.95. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $145.99 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 0.37 and a beta of 1.31. ConocoPhillips has a 52-week low of $56.30 and a 52-week high of $124.08.

ConocoPhillips (NYSE:COPGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same period last year, the company earned $1.27 EPS. As a group, equities analysts forecast that ConocoPhillips will post 14.68 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a None dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, September 29th. ConocoPhillips’s payout ratio is 15.19%.

ConocoPhillips Company Profile

(Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Featured Stories

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COPGet Rating).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.