ConocoPhillips (NYSE:COP) Shares Sold by abrdn plc

abrdn plc lowered its stake in shares of ConocoPhillips (NYSE:COP) by 7.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,970,862 shares of the energy producer’s stock after selling 316,078 shares during the quarter. abrdn plc’s holdings in ConocoPhillips were worth $241,845,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. Harbour Investments Inc. acquired a new position in shares of ConocoPhillips during the first quarter valued at about $30,000. Joseph P. Lucia & Associates LLC purchased a new stake in ConocoPhillips in the second quarter valued at approximately $30,000. Anfield Capital Management LLC purchased a new stake in ConocoPhillips in the second quarter valued at approximately $32,000. Cranbrook Wealth Management LLC boosted its position in ConocoPhillips by 142.9% in the first quarter. Cranbrook Wealth Management LLC now owns 629 shares of the energy producer’s stock valued at $33,000 after buying an additional 370 shares during the last quarter. Finally, Concord Wealth Partners boosted its position in ConocoPhillips by 41.0% in the first quarter. Concord Wealth Partners now owns 640 shares of the energy producer’s stock valued at $34,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 78.47% of the company’s stock.

In other ConocoPhillips news, Director Jody Freeman sold 3,334 shares of the firm’s stock in a transaction on Monday, June 28th. The stock was sold at an average price of $59.65, for a total value of $198,873.10. Following the completion of the sale, the director now directly owns 8,251 shares of the company’s stock, valued at approximately $492,172.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R A. Walker purchased 18,000 shares of the stock in a transaction dated Monday, August 9th. The shares were acquired at an average price of $55.50 per share, with a total value of $999,000.00. The disclosure for this purchase can be found here. 0.08% of the stock is owned by company insiders.

A number of equities research analysts recently commented on COP shares. KeyCorp upped their target price on ConocoPhillips from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 21st. Citigroup upped their price objective on ConocoPhillips from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 1st. BMO Capital Markets upped their price objective on ConocoPhillips from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, July 1st. Barclays upped their price objective on ConocoPhillips from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, June 3rd. Finally, TheStreet upgraded ConocoPhillips from a “c” rating to a “b” rating in a research report on Tuesday, August 3rd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $70.81.

NYSE COP traded up $1.98 during mid-day trading on Wednesday, hitting $58.92. The stock had a trading volume of 471,955 shares, compared to its average volume of 9,242,954. The firm’s 50 day moving average is $56.17 and its 200 day moving average is $55.98. ConocoPhillips has a twelve month low of $27.53 and a twelve month high of $63.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 1.97. The stock has a market capitalization of $78.90 billion, a price-to-earnings ratio of 51.10, a PEG ratio of 1.56 and a beta of 1.77.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Tuesday, August 3rd. The energy producer reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.17. ConocoPhillips had a return on equity of 5.64% and a net margin of 5.93%. The firm had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the prior year, the company earned ($0.92) EPS. As a group, equities research analysts expect that ConocoPhillips will post 4.79 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Monday, July 26th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, July 23rd. ConocoPhillips’s dividend payout ratio (DPR) is presently -177.32%.

ConocoPhillips Profile

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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