Charles Schwab Trust Co Sells 500 Shares of ConocoPhillips (NYSE:COP)

Charles Schwab Trust Co decreased its holdings in ConocoPhillips (NYSE:COP) by 5.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,811 shares of the energy producer’s stock after selling 500 shares during the quarter. Charles Schwab Trust Co’s holdings in ConocoPhillips were worth $928,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of 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 buying an additional 8,479,963 shares during the last quarter. Capital International Investors boosted its holdings in shares of ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after purchasing an additional 1,856,085 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of ConocoPhillips by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after purchasing an additional 438,241 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of ConocoPhillips by 2.7% during the 4th quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock worth $860,398,000 after purchasing an additional 191,519 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of ConocoPhillips by 2.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock worth $653,065,000 after purchasing an additional 109,885 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several research analyst reports. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Mizuho decreased their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Bank of America reissued a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Sanford C. Bernstein dropped their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.12.

ConocoPhillips Trading Down 0.8 %

COP stock traded down $0.92 during midday trading on Friday, reaching $110.94. 2,277,038 shares of the company’s stock traded hands, compared to its average volume of 5,925,717. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The business has a 50-day moving average price of $108.96 and a two-hundred day moving average price of $115.73. The company has a market capitalization of $128.83 billion, a P/E ratio of 12.47, a PEG ratio of 0.88 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping 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 firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the prior year, the company earned $1.84 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.09%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 25.86%.

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.