Diversified Trust Co Sells 8,780 Shares of ConocoPhillips $COP

Key Points

• Diversified Trust Co reduced its stake in ConocoPhillips by 37.7% during the second quarter, now holding 14,525 shares valued at approximately $1.3 million.
• ConocoPhillips reported $1.42 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $1.36, and achieved a revenue of $14.94 billion.
• The company declared a quarterly dividend of $0.78, yielding 3.4% annually, with a payout ratio of 41.88%.

Diversified Trust Co decreased its position in ConocoPhillips (NYSE:COP - Free Report) by 37.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 14,525 shares of the energy producer's stock after selling 8,780 shares during the period. Diversified Trust Co's holdings in ConocoPhillips were worth $1,303,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of COP. Financial Network Wealth Advisors LLC raised its holdings in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after acquiring an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new position in ConocoPhillips during the first quarter valued at approximately $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips in the first quarter valued at approximately $35,000. IMA Advisory Services Inc. acquired a new position in ConocoPhillips during the first quarter worth $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of ConocoPhillips by 418.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock valued at $38,000 after purchasing an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Melius Research assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price for the company. Citigroup cut their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Piper Sandler upped their price target on shares of ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Mizuho lowered their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Finally, Melius started coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price target on the stock. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $120.14.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $0.19 during trading on Monday, reaching $92.11. 5,797,888 shares of the company traded hands, compared to its average volume of 6,350,395. The stock has a market capitalization of $115.04 billion, a PE ratio of 12.36, a P/E/G ratio of 2.42 and a beta of 0.69. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The firm has a 50 day simple moving average of $94.59 and a 200-day simple moving average of $92.97.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. During the same period in the prior year, the business posted $1.98 earnings per share. The business's revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. ConocoPhillips's dividend payout ratio (DPR) is presently 41.88%.

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.