ConocoPhillips (NYSE:COP) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in ConocoPhillips (NYSE:COP - Free Report) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,455,915 shares of the energy producer's stock after selling 27,100 shares during the period. Swiss National Bank owned approximately 0.30% of ConocoPhillips worth $363,839,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on COP shares. Barclays upped their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a research note on Friday, November 1st. Wells Fargo & Company reiterated a "sector perform" rating on shares of ConocoPhillips in a report on Friday, October 18th. Truist Financial decreased their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Finally, Mizuho increased their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average price target of $137.63.

ConocoPhillips Trading Down 0.5 %

Shares of NYSE COP traded down $0.60 during midday trading on Friday, reaching $112.32. 4,124,037 shares of the stock were exchanged, compared to its average volume of 5,431,788. The stock has a 50 day moving average price of $108.01 and a 200-day moving average price of $111.59. 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 capitalization of $129.27 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.92 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 - Get Free Report) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.97 billion. During the same period in the previous year, the company earned $2.16 EPS. ConocoPhillips's revenue for the quarter was down 8.5% on a year-over-year basis. Equities research analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal 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. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, November 8th. ConocoPhillips's dividend payout ratio is presently 37.10%.

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.