Abner Herrman & Brock LLC Sells 1,000 Shares of ConocoPhillips (NYSE:COP)

Abner Herrman & Brock LLC reduced its stake in ConocoPhillips (NYSE:COP) by 31.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,226 shares of the energy producer’s stock after selling 1,000 shares during the quarter. Abner Herrman & Brock LLC’s holdings in ConocoPhillips were worth $231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Fairfield Bush & CO. bought a new stake in ConocoPhillips during the 1st quarter worth approximately $31,000. Cetera Investment Advisers increased its stake in shares of ConocoPhillips by 4.0% in the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after purchasing an additional 968 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of ConocoPhillips by 1.9% during the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after purchasing an additional 9,313 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of ConocoPhillips by 59.1% during the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after buying an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in ConocoPhillips by 21.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after buying an additional 2,465 shares during the period. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 569,400 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the transaction, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at $2,221,360.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on COP. Wells Fargo & Company raised their price target on ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Raymond James cut their target price on shares of ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating for the company in a research note on Monday, July 24th. UBS Group lifted their price target on shares of ConocoPhillips from $127.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, August 17th. StockNews.com initiated coverage on shares of ConocoPhillips in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Truist Financial raised their price objective on ConocoPhillips from $148.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $134.42.

ConocoPhillips Trading Up 1.7 %

NYSE COP traded up $2.06 during trading on Thursday, hitting $124.37. The stock had a trading volume of 989,552 shares, compared to its average volume of 5,783,735. The stock has a market capitalization of $148.93 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 0.75 and a beta of 1.30. The stock has a 50 day simple moving average of $114.96 and a 200 day simple moving average of $106.86. ConocoPhillips has a one year low of $91.53 and a one year high of $138.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.28 and a current ratio of 1.41.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. The business had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the business posted $3.91 earnings per share. Sell-side analysts predict that ConocoPhillips will post 8.87 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were issued a dividend of $0.51 per share. The ex-dividend date was Wednesday, September 27th. This represents a $2.04 dividend on an annualized basis and a yield of 1.64%. ConocoPhillips’s payout ratio is 19.65%.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.