ConocoPhillips $COP Stock Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. decreased its position in ConocoPhillips (NYSE:COP) by 6.2% in the third quarter, Holdings Channel.com reports. The firm owned 228,944 shares of the energy producer’s stock after selling 15,239 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in ConocoPhillips were worth $28,652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strengthening Families & Communities LLC boosted its stake in ConocoPhillips by 2.0% during the third quarter. Strengthening Families & Communities LLC now owns 19,076 shares of the energy producer’s stock worth $2,387,000 after acquiring an additional 367 shares in the last quarter. Sawyer & Company Inc purchased a new stake in ConocoPhillips in the third quarter worth about $2,567,000. Capstone Capital Management Ltd increased its stake in shares of ConocoPhillips by 4.2% during the third quarter. Capstone Capital Management Ltd now owns 7,890 shares of the energy producer’s stock valued at $987,000 after purchasing an additional 320 shares in the last quarter. Benchmark Financial Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 22.0% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,932 shares of the energy producer’s stock valued at $367,000 after purchasing an additional 528 shares in the last quarter. Finally, Physician Wealth Advisors Inc. increased its stake in shares of ConocoPhillips by 9.3% during the third quarter. Physician Wealth Advisors Inc. now owns 3,074 shares of the energy producer’s stock valued at $385,000 after purchasing an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Weiss Ratings upgraded ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 29th. Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Argus raised their price objective on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Barclays lowered their price objective on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $145.00.

ConocoPhillips Stock Down 0.1%

COP stock opened at $145.77 on Thursday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $147.41. The business has a fifty day moving average price of $133.34 and a 200-day moving average price of $122.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The stock has a market capitalization of $175.12 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.45 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. Equities analysts forecast that ConocoPhillips will post 11.19 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.