First Horizon Advisors Inc. Has $5.86 Million Position in ConocoPhillips (NYSE:COP)

First Horizon Advisors Inc. cut its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 11.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,653 shares of the energy producer's stock after selling 7,504 shares during the period. First Horizon Advisors Inc.'s holdings in ConocoPhillips were worth $5,859,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vicus Capital raised its position in shares of ConocoPhillips by 3.7% in the second quarter. Vicus Capital now owns 2,637 shares of the energy producer's stock worth $302,000 after acquiring an additional 94 shares during the period. Montag A & Associates Inc. increased its stake in shares of ConocoPhillips by 2.5% during the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer's stock worth $446,000 after purchasing an additional 96 shares in the last quarter. Excalibur Management Corp increased its stake in shares of ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer's stock worth $462,000 after purchasing an additional 96 shares in the last quarter. First Hawaiian Bank boosted its holdings in ConocoPhillips by 0.3% in the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer's stock valued at $4,202,000 after purchasing an additional 97 shares during the last quarter. Finally, Bank OZK lifted its holdings in shares of ConocoPhillips by 1.6% in the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer's stock worth $715,000 after acquiring an additional 97 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

COP stock traded up $1.79 during midday trading on Thursday, hitting $115.22. 1,294,087 shares of the company traded hands, compared to its average volume of 5,846,750. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business has a 50 day simple moving average of $108.57 and a 200-day simple moving average of $111.48. The stock has a market capitalization of $132.61 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.97 billion. During the same period in the prior year, the business earned $2.16 earnings per share. ConocoPhillips's revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities research analysts predict that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.71%. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips's dividend payout ratio is currently 37.10%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on COP shares. Barclays increased their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Wells Fargo & Company reissued a "sector perform" rating on shares of ConocoPhillips in a research report on Friday, October 18th. Truist Financial reduced their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a "buy" rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Finally, UBS Group reduced their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Six investment 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. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus price target 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.