F&V Capital Management LLC Sells 142,843 Shares of ConocoPhillips $COP

Key Points

• F&V Capital Management LLC reduced its stake in ConocoPhillips by 94.3%, selling 142,843 shares and now holds 8,587 shares valued at approximately $771,000.
• ConocoPhillips reported a quarterly earnings of $1.42 per share, exceeding estimates and achieved a revenue of $14.94 billion, reflecting a 4.3% increase year-over-year.
• The company announced a quarterly dividend of $0.78, equating to an annual yield of 3.3%, with a dividend payout ratio of 41.88%.

F&V Capital Management LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 94.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,587 shares of the energy producer's stock after selling 142,843 shares during the period. F&V Capital Management LLC's holdings in ConocoPhillips were worth $771,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ConocoPhillips by 6.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,210,860 shares of the energy producer's stock valued at $108,663,000 after purchasing an additional 71,651 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of ConocoPhillips by 16.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 24,864 shares of the energy producer's stock valued at $2,231,000 after purchasing an additional 3,580 shares in the last quarter. Tower View Wealth Management LLC lifted its holdings in shares of ConocoPhillips by 298.1% during the 2nd quarter. Tower View Wealth Management LLC now owns 1,895 shares of the energy producer's stock valued at $170,000 after purchasing an additional 1,419 shares in the last quarter. Kennebec Savings Bank lifted its holdings in shares of ConocoPhillips by 6.2% during the 2nd quarter. Kennebec Savings Bank now owns 6,203 shares of the energy producer's stock valued at $557,000 after purchasing an additional 364 shares in the last quarter. Finally, Naples Global Advisors LLC lifted its holdings in shares of ConocoPhillips by 8.7% during the 2nd quarter. Naples Global Advisors LLC now owns 17,895 shares of the energy producer's stock valued at $1,606,000 after purchasing an additional 1,428 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Down 2.1%

COP stock opened at $93.45 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $116.71 billion, a PE ratio of 12.54, a PEG ratio of 2.51 and a beta of 0.62. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The business's 50 day simple moving average is $94.94 and its 200 day simple moving average is $92.96.

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

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio is currently 41.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on COP shares. Piper Sandler boosted their target price on ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Scotiabank boosted their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Melius started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price on the stock. Citigroup cut their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Finally, Susquehanna cut their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average price target of $120.14.

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.

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