Wedge Capital Management L L P NC Purchases 150 Shares of ConocoPhillips (NYSE:COP)

Wedge Capital Management L L P NC increased its holdings in ConocoPhillips (NYSE:COP) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,168 shares of the energy producer’s stock after acquiring an additional 150 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ConocoPhillips were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of COP. Price T Rowe Associates Inc. MD lifted its stake in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares during the period. Capital International Investors grew its stake in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of ConocoPhillips by 46.0% in the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after purchasing an additional 1,015,158 shares during the last quarter. TD Asset Management Inc increased its stake in ConocoPhillips by 34.7% in the 1st quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after acquiring an additional 712,062 shares during the last quarter. Finally, Natixis raised its stake in ConocoPhillips by 239.1% during the first quarter. Natixis now owns 785,797 shares of the energy producer’s stock valued at $100,016,000 after purchasing an additional 554,078 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.0 %

Shares of ConocoPhillips stock opened at $106.17 on Friday. The company has a market capitalization of $124.17 billion, a PE ratio of 12.02, a P/E/G ratio of 0.88 and a beta of 1.21. 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 business has a 50-day moving average of $109.07 and a 200-day moving average of $115.06. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.84 EPS. As a group, equities analysts forecast that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents 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 through this hyperlink. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of research analyst reports. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Truist Financial cut their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wolfe Research initiated coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. Susquehanna decreased their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, UBS Group decreased their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.12.

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.