ConocoPhillips (NYSE:COP) Shares Sold by Quent Capital LLC

Quent Capital LLC trimmed its position in shares of ConocoPhillips (NYSE:COP) by 8.1% in the second quarter, Holdings Channel.com reports. The firm owned 1,588 shares of the energy producer’s stock after selling 140 shares during the period. Quent Capital LLC’s holdings in ConocoPhillips were worth $182,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. BancFirst Trust & Investment Management grew its holdings in ConocoPhillips by 24.7% during the 2nd quarter. BancFirst Trust & Investment Management now owns 2,092 shares of the energy producer’s stock valued at $238,000 after purchasing an additional 414 shares in the last quarter. Bank & Trust Co bought a new position in ConocoPhillips during the 2nd quarter valued at $351,000. Beach Investment Counsel Inc. PA bought a new position in ConocoPhillips during the 2nd quarter valued at $149,000. Versant Capital Management Inc boosted its stake in ConocoPhillips by 103.3% during the 2nd quarter. Versant Capital Management Inc now owns 809 shares of the energy producer’s stock valued at $93,000 after acquiring an additional 411 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in ConocoPhillips during the 2nd quarter valued at $396,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Piper Sandler increased their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank of Canada increased their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Truist Financial reduced their price objective on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday. Finally, UBS Group reduced their price objective on shares of ConocoPhillips from $159.00 to $151.00 and set a “buy” rating on the stock in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.53.

ConocoPhillips Stock Performance

ConocoPhillips stock traded up $1.22 during midday trading on Tuesday, reaching $105.79. 8,424,608 shares of the stock traded hands, compared to its average volume of 5,700,821. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $112.50 and a two-hundred day moving average price of $117.15. The firm has a market cap of $123.73 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 2.14 and a beta of 1.24. ConocoPhillips has a fifty-two week low of $102.27 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 EPS. On average, equities research analysts forecast that ConocoPhillips will post 8.73 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

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.