Prudent Man Advisors LLC Reduces Holdings in ConocoPhillips (NYSE:COP)

Prudent Man Advisors LLC lessened its position in shares of ConocoPhillips (NYSE:COP) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,604 shares of the energy producer’s stock after selling 281 shares during the period. Prudent Man Advisors LLC’s holdings in ConocoPhillips were worth $891,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. WFA of San Diego LLC bought a new stake in shares of ConocoPhillips during the 2nd quarter valued at $78,000. Davis R M Inc. raised its stake in shares of ConocoPhillips by 1.3% during the 2nd quarter. Davis R M Inc. now owns 385,071 shares of the energy producer’s stock valued at $39,897,000 after purchasing an additional 4,905 shares during the period. Gateway Advisory LLC bought a new stake in shares of ConocoPhillips during the 2nd quarter valued at $598,000. Financial Partners Group LLC increased its stake in ConocoPhillips by 23.8% in the 2nd quarter. Financial Partners Group LLC now owns 4,648 shares of the energy producer’s stock worth $482,000 after acquiring an additional 893 shares during the last quarter. Finally, Triton Wealth Management PLLC bought a new position in ConocoPhillips in the 2nd quarter worth about $212,000. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley upped their target price on ConocoPhillips from $124.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, October 2nd. Jefferies Financial Group increased their price objective on ConocoPhillips from $141.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. Wells Fargo & Company increased their price objective on ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. UBS Group increased their price objective on ConocoPhillips from $147.00 to $149.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Finally, Truist Financial increased their price objective on ConocoPhillips from $151.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $136.35.

Insider Activity at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 30,800 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $123.83, for a total transaction of $3,813,964.00. Following the completion of the transaction, the senior vice president now owns 5,937 shares of the company’s stock, valued at approximately $735,178.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other ConocoPhillips news, SVP Andrew D. Lundquist sold 30,800 shares of ConocoPhillips stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $123.83, for a total value of $3,813,964.00. Following the completion of the sale, the senior vice president now owns 5,937 shares of the company’s stock, valued at approximately $735,178.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sharmila Mulligan sold 1,849 shares of ConocoPhillips stock in a transaction on Friday, September 15th. The stock was sold at an average price of $125.19, for a total value of $231,476.31. The disclosure for this sale can be found here. Insiders sold a total of 646,049 shares of company stock valued at $78,636,116 in the last 90 days. Corporate insiders own 0.37% of the company’s stock.

ConocoPhillips Stock Up 1.6 %

Shares of COP traded up $1.89 on Monday, reaching $116.48. The stock had a trading volume of 626,901 shares, compared to its average volume of 5,677,666. The firm has a market capitalization of $138.31 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 0.68 and a beta of 1.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.53 and a current ratio of 1.66. The company has a 50-day simple moving average of $119.68 and a 200-day simple moving average of $112.53. ConocoPhillips has a 12-month low of $91.53 and a 12-month high of $130.55.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Monday, November 13th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s dividend payout ratio (DPR) is 25.36%.

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 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.