Advisors Asset Management Inc. Sells 20,268 Shares of ConocoPhillips (NYSE:COP)

Advisors Asset Management Inc. reduced its holdings in ConocoPhillips (NYSE:COP - Free Report) by 21.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,098 shares of the energy producer's stock after selling 20,268 shares during the period. Advisors Asset Management Inc.'s holdings in ConocoPhillips were worth $7,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Vident Advisory LLC lifted its position in shares of ConocoPhillips by 5.4% in the first quarter. Vident Advisory LLC now owns 24,998 shares of the energy producer's stock valued at $3,182,000 after acquiring an additional 1,291 shares in the last quarter. EntryPoint Capital LLC purchased a new position in ConocoPhillips during the first quarter worth approximately $46,000. CreativeOne Wealth LLC lifted its position in ConocoPhillips by 32.1% during the first quarter. CreativeOne Wealth LLC now owns 8,856 shares of the energy producer's stock worth $1,127,000 after buying an additional 2,150 shares in the last quarter. EP Wealth Advisors LLC lifted its position in ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer's stock worth $3,640,000 after buying an additional 4,578 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in ConocoPhillips by 1.2% during the first quarter. Stonebridge Capital Advisors LLC now owns 57,383 shares of the energy producer's stock worth $7,304,000 after buying an additional 693 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Up 1.6 %

Shares of COP stock traded up $1.79 on Thursday, hitting $115.22. The company's stock had a trading volume of 1,294,087 shares, compared to its average volume of 5,846,750. 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 fifty-two week low of $101.29 and a fifty-two week high of $135.18. The firm's fifty day moving average price is $108.57 and its 200-day moving average price is $111.48. The stock has a market capitalization of $132.61 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 0.92 and a beta of 1.21.

ConocoPhillips (NYSE:COP - Get Free Report) last released its 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 analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business's revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 EPS. Research analysts anticipate that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid 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 2.71%. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's payout ratio is presently 37.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COP. Truist Financial reduced their price objective on ConocoPhillips from $145.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. UBS Group reduced their target price on ConocoPhillips from $153.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Barclays lifted their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Mizuho lifted their target price on ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and an average target price of $137.63.

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.