Great Lakes Retirement Inc. Sells 3,070 Shares of ConocoPhillips (NYSE:COP)

Great Lakes Retirement Inc. decreased its holdings in ConocoPhillips (NYSE:COP) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,884 shares of the energy producer’s stock after selling 3,070 shares during the quarter. Great Lakes Retirement Inc.’s holdings in ConocoPhillips were worth $2,620,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after acquiring an additional 8,479,963 shares during the last quarter. Capital International Investors increased its holdings in shares of ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after purchasing an additional 1,856,085 shares in the last quarter. International Assets Investment Management LLC raised its position in ConocoPhillips by 10,634.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after purchasing an additional 1,194,434 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in ConocoPhillips by 46.0% during the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after buying an additional 1,015,158 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in ConocoPhillips by 34.7% in the 1st quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock valued at $351,602,000 after buying an additional 712,062 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $104.49 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock has a market cap of $121.34 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 0.85 and a beta of 1.21. The business has a 50 day simple moving average of $108.74 and a 200 day simple moving average of $114.21. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business posted $1.84 earnings per share. Analysts anticipate that ConocoPhillips will post 7.95 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.22%. ConocoPhillips’s dividend payout ratio is currently 25.86%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COP. Barclays dropped their target price on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Scotiabank cut their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Wolfe Research started coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target for the company. Mizuho cut their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.94.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by corporate insiders.

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, 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.