Angeles Investment Advisors LLC Sells 1,754 Shares of ConocoPhillips (NYSE:COP)

Angeles Investment Advisors LLC decreased its position in shares of ConocoPhillips (NYSE:COP) by 39.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,639 shares of the energy producer’s stock after selling 1,754 shares during the period. Angeles Investment Advisors LLC’s holdings in ConocoPhillips were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Cardinal Capital Management Inc. bought a new position in ConocoPhillips during the fourth quarter valued at $13,468,000. Harbor Investment Advisory LLC increased its position in ConocoPhillips by 2.2% during the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after acquiring an additional 212 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in ConocoPhillips by 5.6% during the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after acquiring an additional 1,390 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in ConocoPhillips during the second quarter valued at $30,021,000. Finally, EP Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after purchasing an additional 4,578 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COP shares. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Truist Financial lowered their target price on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.06.

ConocoPhillips Stock Up 2.0 %

NYSE:COP opened at $105.56 on Tuesday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market capitalization of $122.58 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The company’s 50-day simple moving average is $110.03 and its 200-day simple moving average is $116.69.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the business earned $1.84 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by insiders.

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.