Qtron Investments LLC Decreases Stock Position in ConocoPhillips $COP

Key Points

• Qtron Investments LLC has decreased its stake in ConocoPhillips by 53.1%, owning 11,504 shares after selling 13,035 shares during the first quarter.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, yielding 3.3%, with a total annualized dividend of $3.12.
• Analysts have set a new average target price of $120.84 for ConocoPhillips, with sixteen analysts giving a buy rating and two rating it as hold.

Qtron Investments LLC lessened its position in ConocoPhillips (NYSE:COP - Free Report) by 53.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,504 shares of the energy producer's stock after selling 13,035 shares during the quarter. Qtron Investments LLC's holdings in ConocoPhillips were worth $1,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 10Elms LLP purchased a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC lifted its position in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new position in ConocoPhillips during the first quarter worth approximately $31,000. Garde Capital Inc. purchased a new position in ConocoPhillips during the first quarter worth approximately $35,000. Finally, IMA Advisory Services Inc. purchased a new position in ConocoPhillips during the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on COP. Susquehanna reduced their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Mizuho cut their target price on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Piper Sandler reissued an "overweight" rating and set a $123.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Roth Capital reissued a "buy" rating and set a $108.00 target price on shares of ConocoPhillips in a research note on Thursday, August 7th. Finally, Barclays cut their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.84.

ConocoPhillips Trading Down 0.3%

COP opened at $95.39 on Monday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The stock has a market capitalization of $119.14 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.48 and a beta of 0.67. 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 business has a fifty day moving average price of $93.61 and a 200 day moving average price of $93.35.

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

ConocoPhillips Dividend Announcement

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

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

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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