ConocoPhillips (NYSE:COP) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,607,884 shares of the energy producer's stock after selling 379,576 shares during the quarter. ConocoPhillips accounts for 0.8% of Massachusetts Financial Services Co. MA's holdings, making the stock its 18th biggest holding. Massachusetts Financial Services Co. MA owned approximately 2.31% of ConocoPhillips worth $2,801,278,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Thompson Siegel & Walmsley LLC grew its holdings in shares of ConocoPhillips by 8.7% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,807 shares of the energy producer's stock worth $296,000 after purchasing an additional 225 shares in the last quarter. LPL Financial LLC grew its holdings in shares of ConocoPhillips by 3.1% during the 3rd quarter. LPL Financial LLC now owns 1,021,324 shares of the energy producer's stock worth $107,525,000 after purchasing an additional 30,772 shares in the last quarter. German American Bancorp Inc. grew its holdings in shares of ConocoPhillips by 7.3% during the 3rd quarter. German American Bancorp Inc. now owns 53,984 shares of the energy producer's stock worth $5,683,000 after purchasing an additional 3,650 shares in the last quarter. Cypress Capital Group boosted its stake in ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer's stock valued at $1,978,000 after buying an additional 96 shares in the last quarter. Finally, Primecap Management Co. CA boosted its stake in ConocoPhillips by 48.9% in the third quarter. Primecap Management Co. CA now owns 4,320,905 shares of the energy producer's stock valued at $454,905,000 after buying an additional 1,418,900 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $1.72 during mid-day trading on Thursday, reaching $111.71. The stock had a trading volume of 8,287,971 shares, compared to its average volume of 5,897,121. 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 company has a market cap of $128.57 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The business's 50 day moving average price is $108.57 and its 200 day moving average price is $111.48.

ConocoPhillips (NYSE:COP - Get Free Report) last released its 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 firm had revenue of $13.60 billion for the quarter, compared to analysts' expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company's quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 earnings per share. Research analysts expect that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.79%. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's dividend payout ratio is 37.10%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Finally, 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 note on Monday, September 30th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $137.63.

ConocoPhillips Company 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.