Mizuho Securities USA LLC Sells 20,442 Shares of ConocoPhillips (NYSE:COP)

Key Points

• Mizuho Securities USA LLC reduced its holdings in ConocoPhillips by 16.7%, selling 20,442 shares during the 1st quarter, leaving them with a total of 102,158 shares valued at approximately $10.7 million.
• ConocoPhillips reported an EPS of $1.42 for the latest quarter, exceeding analysts' expectations of $1.36, and saw revenue increase to $14.94 billion.
• Analyst reports indicate a positive outlook for ConocoPhillips, with a consensus price target of $120.63 and a majority rating of "Moderate Buy" from research analysts.

Mizuho Securities USA LLC cut its holdings in ConocoPhillips (NYSE:COP - Free Report) by 16.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 102,158 shares of the energy producer's stock after selling 20,442 shares during the period. Mizuho Securities USA LLC's holdings in ConocoPhillips were worth $10,729,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 10Elms LLP bought a new stake in shares of ConocoPhillips during the 4th quarter worth about $28,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $37,000. Fourth Dimension Wealth LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ConocoPhillips during the 1st quarter worth approximately $42,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on COP. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Roth Capital reaffirmed a "buy" rating and issued a $108.00 price objective on shares of ConocoPhillips in a research note on Thursday. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Finally, Susquehanna cut their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $120.84.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company's stock.

ConocoPhillips Trading Down 0.4%

COP traded down $0.35 during mid-day trading on Monday, hitting $93.56. The stock had a trading volume of 6,491,348 shares, compared to its average volume of 6,219,974. The stock's fifty day simple moving average is $92.91 and its 200-day simple moving average is $93.53. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $116.85 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 2.44 and a beta of 0.67. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08.

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 the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $1.98 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.78 dividend. The ex-dividend date is Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is 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.