Payden & Rygel Sells 105,300 Shares of ConocoPhillips (NYSE:COP)

Payden & Rygel cut its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 97.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,400 shares of the energy producer's stock after selling 105,300 shares during the quarter. Payden & Rygel's holdings in ConocoPhillips were worth $253,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Values First Advisors Inc. purchased a new position in ConocoPhillips in the third quarter worth about $26,000. Stephens Consulting LLC grew its holdings in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer's stock valued at $29,000 after buying an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the third quarter valued at $31,000. Y.D. More Investments Ltd purchased a new position in ConocoPhillips in the second quarter worth about $35,000. Finally, Fairway Wealth LLC raised its holdings in ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer's stock valued at $36,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Up 0.6 %

Shares of COP stock traded up $0.65 during mid-day trading on Thursday, hitting $114.08. The company's stock had a trading volume of 2,102,902 shares, compared to its average volume of 5,849,683. The company has a market cap of $131.30 billion, a PE ratio of 13.49, a P/E/G ratio of 0.92 and a beta of 1.21. The company's fifty day simple moving average is $108.57 and its 200-day simple moving average is $111.48. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for 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%. The company's revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $2.16 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 7.8 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. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.73%. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's payout ratio is currently 37.10%.

Analysts Set New Price Targets

Several research firms have issued reports on COP. Mizuho boosted their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Barclays boosted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 10th. Finally, Truist Financial reduced their target price on ConocoPhillips from $145.00 to $138.00 and set a "buy" rating for the company in a report on Monday, September 30th. Six 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.