Bank of Hawaii Trims Stock Holdings in ConocoPhillips (NYSE:COP)

Bank of Hawaii lowered its position in shares of ConocoPhillips (NYSE:COP) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 17,758 shares of the energy producer’s stock after selling 474 shares during the quarter. Bank of Hawaii’s holdings in ConocoPhillips were worth $1,870,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its holdings in shares of ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after purchasing an additional 4,656,040 shares during the period. Daiwa Securities Group Inc. lifted its stake in ConocoPhillips by 10.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 167,966 shares of the energy producer’s stock valued at $17,683,000 after acquiring an additional 15,487 shares during the period. Garner Asset Management Corp boosted its holdings in shares of ConocoPhillips by 24.5% in the 3rd quarter. Garner Asset Management Corp now owns 22,056 shares of the energy producer’s stock valued at $2,322,000 after acquiring an additional 4,346 shares during the last quarter. Marco Investment Management LLC increased its stake in shares of ConocoPhillips by 4.2% in the third quarter. Marco Investment Management LLC now owns 142,268 shares of the energy producer’s stock worth $14,978,000 after acquiring an additional 5,795 shares during the period. Finally, Summit Trail Advisors LLC raised its holdings in shares of ConocoPhillips by 2.0% during the third quarter. Summit Trail Advisors LLC now owns 24,070 shares of the energy producer’s stock worth $2,534,000 after purchasing an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on COP. Truist Financial lowered their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Mizuho upped their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Susquehanna upped their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Six equities research 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 stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Stock Down 0.1 %

COP stock opened at $111.75 on Monday. 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. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The firm has a 50-day simple moving average of $108.91 and a 200-day simple moving average of $111.23. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 EPS. Equities analysts forecast that ConocoPhillips will post 7.78 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 issued a $0.78 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 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.