Wright Investors Service Inc. Has $1.29 Million Position in ConocoPhillips (NYSE:COP)

Wright Investors Service Inc. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 1.5% during the third quarter, Holdings Channel reports. The firm owned 12,291 shares of the energy producer’s stock after purchasing an additional 187 shares during the period. Wright Investors Service Inc.’s holdings in ConocoPhillips were worth $1,294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Quent Capital LLC raised its holdings in shares of ConocoPhillips by 43.4% during the 3rd quarter. Quent Capital LLC now owns 2,277 shares of the energy producer’s stock valued at $240,000 after purchasing an additional 689 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of ConocoPhillips by 8.3% during the 3rd quarter. Harbor Investment Advisory LLC now owns 9,769 shares of the energy producer’s stock valued at $1,028,000 after purchasing an additional 749 shares in the last quarter. Goelzer Investment Management Inc. raised its holdings in shares of ConocoPhillips by 4.2% during the 3rd quarter. Goelzer Investment Management Inc. now owns 3,359 shares of the energy producer’s stock valued at $354,000 after purchasing an additional 136 shares in the last quarter. Fluent Financial LLC raised its holdings in shares of ConocoPhillips by 9.4% during the 3rd quarter. Fluent Financial LLC now owns 30,623 shares of the energy producer’s stock valued at $3,224,000 after purchasing an additional 2,623 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of ConocoPhillips by 6.2% during the 3rd quarter. Czech National Bank now owns 236,559 shares of the energy producer’s stock valued at $24,905,000 after purchasing an additional 13,707 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial dropped their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Barclays dropped their target price on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday. BMO Capital Markets lifted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday. Mizuho dropped their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Susquehanna dropped their target price on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.29.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded up $2.12 during trading on Friday, hitting $114.54. 7,585,770 shares of the company’s stock traded hands, compared to its average volume of 5,971,043. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm’s fifty day moving average price is $108.77 and its 200 day moving average price is $115.98. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a market cap of $133.96 billion, a PE ratio of 12.97, a PEG ratio of 0.82 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 earnings per share. Analysts forecast that ConocoPhillips will post 8.12 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.03%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

ConocoPhillips Company 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.