ConocoPhillips (NYSE:COP) Shares Sold by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 43.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,369 shares of the energy producer’s stock after selling 7,058 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in ConocoPhillips were worth $986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Manning & Napier Advisors LLC acquired a new position in shares of ConocoPhillips during the second quarter valued at $30,021,000. Prospera Financial Services Inc boosted its stake in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after purchasing an additional 13,595 shares during the period. Pacer Advisors Inc. grew its position in ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. TCW Group Inc. increased its stake in shares of ConocoPhillips by 37.8% in the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after purchasing an additional 8,231 shares during the period. Finally, Doheny Asset Management CA acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $815,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $111.75 on Friday. The stock has a market capitalization of $128.61 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The business’s fifty day moving average is $108.91 and its two-hundred day moving average is $111.32. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, research analysts forecast that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Truist Financial reduced their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.63.

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.