CKW Financial Group Has $60,000 Holdings in ConocoPhillips (NYSE:COP)

CKW Financial Group trimmed its position in shares of ConocoPhillips (NYSE:COP) by 15.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 550 shares of the energy producer’s stock after selling 100 shares during the period. CKW Financial Group’s holdings in ConocoPhillips were worth $60,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of COP. Vicus Capital boosted its stake in ConocoPhillips by 3.7% during the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock valued at $302,000 after buying an additional 94 shares during the period. Montag A & Associates Inc. boosted its position in shares of ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after acquiring an additional 96 shares during the last quarter. Excalibur Management Corp boosted its position in shares of ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after acquiring an additional 96 shares during the last quarter. Cypress Capital Group grew its holdings in shares of ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares in the last quarter. Finally, First Hawaiian Bank increased its position in shares of ConocoPhillips by 0.3% in the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after purchasing an additional 97 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 0.3 %

Shares of COP stock traded down $0.36 during mid-day trading on Tuesday, reaching $105.74. The stock had a trading volume of 2,379,196 shares, compared to its average volume of 5,962,989. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average price is $108.92 and its two-hundred day moving average price is $111.11. The firm has a market capitalization of $121.70 billion, a PE ratio of 12.61, a price-to-earnings-growth 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.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.16 EPS. Equities analysts expect that ConocoPhillips will post 7.78 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Mizuho boosted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Truist Financial reduced their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Barclays raised their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, BMO Capital Markets raised their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $137.63.

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.