ConocoPhillips (NYSE:COP) Shares Sold by M&R Capital Management Inc.

M&R Capital Management Inc. lessened its position in ConocoPhillips (NYSE:COP) by 2.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,873 shares of the energy producer’s stock after selling 158 shares during the period. M&R Capital Management Inc.’s holdings in ConocoPhillips were worth $712,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of COP. Ten Capital Wealth Advisors LLC raised its position in shares of ConocoPhillips by 205.8% in the fourth quarter. Ten Capital Wealth Advisors LLC now owns 211 shares of the energy producer’s stock valued at $25,000 after buying an additional 142 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its position in shares of ConocoPhillips by 398.1% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock valued at $27,000 after buying an additional 215 shares during the last quarter. Fairfield Bush & CO. acquired a new position in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Financial Connections Group Inc. increased its position in ConocoPhillips by 383.3% during the fourth quarter. Financial Connections Group Inc. now owns 290 shares of the energy producer’s stock worth $34,000 after purchasing an additional 230 shares during the last quarter. Finally, NewSquare Capital LLC increased its position in ConocoPhillips by 335.4% during the first quarter. NewSquare Capital LLC now owns 344 shares of the energy producer’s stock worth $34,000 after purchasing an additional 265 shares during the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.

Insider Activity

In other news, CEO Ryan Michael Lance sold 569,400 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the completion of the transaction, the chief executive officer now directly owns 18,187 shares in the company, valued at $2,221,360.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

ConocoPhillips Stock Up 1.7 %

Shares of COP stock traded up $2.12 on Thursday, hitting $124.43. The stock had a trading volume of 667,559 shares, compared to its average volume of 5,781,304. The firm has a market capitalization of $149.00 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 0.75 and a beta of 1.30. The stock’s 50 day moving average is $114.96 and its 200-day moving average is $106.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.28 and a current ratio of 1.41. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $138.49.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.10). The firm had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $14.64 billion. ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. During the same quarter last year, the company posted $3.91 earnings per share. As a group, research analysts expect that ConocoPhillips will post 8.87 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th were paid a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $2.04 annualized dividend and a dividend yield of 1.64%. ConocoPhillips’s dividend payout ratio (DPR) is presently 19.65%.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. Mizuho upped their price target on shares of ConocoPhillips from $127.00 to $135.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 16th. UBS Group upped their price target on shares of ConocoPhillips from $127.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of ConocoPhillips in a research report on Monday, August 14th. Citigroup dropped their price target on shares of ConocoPhillips from $145.00 to $140.00 in a research report on Wednesday, July 12th. Finally, Truist Financial upped their price target on shares of ConocoPhillips from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $134.42.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.