Susquehanna Portfolio Strategies LLC Reduces Stock Position in ConocoPhillips (NYSE:COP)

Susquehanna Portfolio Strategies LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 327,547 shares of the energy producer’s stock after selling 18,164 shares during the quarter. ConocoPhillips accounts for 1.0% of Susquehanna Portfolio Strategies LLC’s portfolio, making the stock its 15th biggest holding. Susquehanna Portfolio Strategies LLC’s holdings in ConocoPhillips were worth $41,690,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. West Branch Capital LLC lifted its stake in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Sachetta LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth $27,000. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth $27,000. Cape Investment Advisory Inc. lifted its stake in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on COP shares. Truist Financial upped their target price on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Barclays upped their target price on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Royal Bank of Canada upped their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Monday, July 8th. Finally, Scotiabank reduced their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday. Five investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.07.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.85 during mid-day trading on Friday, reaching $113.14. The company had a trading volume of 4,505,875 shares, compared to its average volume of 5,574,444. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The stock’s 50-day simple moving average is $115.50 and its 200-day simple moving average is $117.39. ConocoPhillips has a 1 year low of $105.77 and a 1 year high of $135.18. The company has a market capitalization of $132.32 billion, a P/E ratio of 12.81, a P/E/G ratio of 2.02 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. On average, equities analysts predict that ConocoPhillips will post 8.9 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.76%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

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.