ConocoPhillips (NYSE:COP) Shares Sold by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,720 shares of the energy producer’s stock after selling 126 shares during the period. Mill Creek Capital Advisors LLC’s holdings in ConocoPhillips were worth $286,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in COP. Price T Rowe Associates Inc. MD increased its stake in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors increased its stake in ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after buying an additional 1,856,085 shares during the period. International Assets Investment Management LLC increased its stake in ConocoPhillips by 10,634.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after buying an additional 1,194,434 shares during the period. Diamond Hill Capital Management Inc. increased its stake in ConocoPhillips by 19.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock worth $717,093,000 after buying an additional 1,101,685 shares during the period. Finally, Natixis increased its stake in ConocoPhillips by 239.1% during the 1st quarter. Natixis now owns 785,797 shares of the energy producer’s stock worth $100,016,000 after buying an additional 554,078 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Truist Financial dropped their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Susquehanna increased their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. UBS Group dropped their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Mizuho increased their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Stock Down 0.5 %

Shares of NYSE:COP opened at $112.32 on Monday. The stock has a market cap of $129.27 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.92 and a beta of 1.21. The firm has a fifty day moving average price of $108.01 and a 200 day moving average price of $111.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.16 EPS. Sell-side analysts predict that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

ConocoPhillips 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.