Coastline Trust Co Has $678,000 Holdings in ConocoPhillips (NYSE:COP)

Coastline Trust Co trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 5.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,443 shares of the energy producer’s stock after selling 390 shares during the period. Coastline Trust Co’s holdings in ConocoPhillips were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of COP. Price T Rowe Associates Inc. MD increased its stake in shares of ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors increased its position in ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after purchasing an additional 1,856,085 shares during the period. International Assets Investment Management LLC raised its holdings in ConocoPhillips by 10,634.2% during 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. Diamond Hill Capital Management Inc. lifted its position in ConocoPhillips by 19.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock valued at $717,093,000 after purchasing an additional 1,101,685 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of ConocoPhillips by 46.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock valued at $409,833,000 after purchasing an additional 1,015,158 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 0.5 %

COP opened at $112.32 on Friday. The firm’s fifty day simple moving average is $108.01 and its 200 day simple moving average is $111.78. The stock has a market capitalization of $129.27 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.91 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Truist Financial cut their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. UBS Group decreased their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.63.

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.