ConocoPhillips (NYSE:COP) Holdings Cut by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lowered its holdings in ConocoPhillips (NYSE:COP) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 462,032 shares of the energy producer’s stock after selling 2,345 shares during the period. Letko Brosseau & Associates Inc.’s holdings in ConocoPhillips were worth $47,871,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Northwest Bank & Trust Co bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $29,000. Fairfield Bush & CO. bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Graham Capital Wealth Management LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $359,140,000. Fortis Capital Advisors LLC bought a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $43,000. Finally, HHM Wealth Advisors LLC raised its holdings in shares of ConocoPhillips by 91.4% during the first quarter. HHM Wealth Advisors LLC now owns 402 shares of the energy producer’s stock valued at $40,000 after buying an additional 192 shares during the last quarter. Institutional investors own 80.36% of the company’s stock.

ConocoPhillips Trading Up 1.2 %

NYSE COP traded up $1.33 on Monday, hitting $115.92. 1,230,477 shares of the stock were exchanged, compared to its average volume of 5,680,458. The company’s 50-day moving average price is $119.68 and its two-hundred day moving average price is $112.53. The company has a market capitalization of $137.64 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 0.68 and a beta of 1.28. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 1.53.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th will be paid a dividend of $0.58 per share. The ex-dividend date is Monday, November 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s dividend payout ratio (DPR) is 25.36%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of ConocoPhillips stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the sale, the chief executive officer now owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of ConocoPhillips stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the sale, the chief executive officer now owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy A. Leach sold 44,000 shares of ConocoPhillips stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $114.64, for a total transaction of $5,044,160.00. Following the completion of the sale, the director now directly owns 578,748 shares of the company’s stock, valued at approximately $66,347,670.72. The disclosure for this sale can be found here. Insiders sold 646,049 shares of company stock valued at $78,636,116 in the last quarter. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of ConocoPhillips from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Jefferies Financial Group raised their price objective on shares of ConocoPhillips from $141.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. Erste Group Bank upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Truist Financial raised their price objective on shares of ConocoPhillips from $151.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 18th. Finally, Morgan Stanley raised their price objective on shares of ConocoPhillips from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, October 2nd. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $136.35.

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 and internationally. 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 global exploration prospects.