ConocoPhillips (NYSE:COP) Shares Bought by Sterling Investment Advisors Ltd.

Sterling Investment Advisors Ltd. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,341 shares of the energy producer’s stock after buying an additional 342 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in ConocoPhillips were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of COP. Brookstone Capital Management lifted its holdings in shares of ConocoPhillips by 41.2% in the first quarter. Brookstone Capital Management now owns 10,158 shares of the energy producer’s stock valued at $1,293,000 after purchasing an additional 2,963 shares in the last quarter. Vicus Capital acquired a new position in ConocoPhillips during the 1st quarter worth $324,000. Founders Financial Securities LLC acquired a new position in ConocoPhillips during the 1st quarter worth $1,184,000. Chatham Capital Group Inc. acquired a new position in ConocoPhillips during the 1st quarter worth $1,000,000. Finally, Breakwater Capital Group lifted its position in shares of ConocoPhillips by 3.5% in the 1st quarter. Breakwater Capital Group now owns 4,080 shares of the energy producer’s stock worth $519,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of a number of recent research reports. Mizuho reduced their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Scotiabank lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Truist Financial lowered their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $136.94.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $0.19 on Friday, reaching $104.56. The stock had a trading volume of 3,823,136 shares, compared to its average volume of 5,886,296. The business’s 50-day moving average price is $108.47 and its two-hundred day moving average price is $113.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market cap of $122.29 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 7.95 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.22%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company’s stock.

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.