Clifford Swan Investment Counsel LLC Has $13.59 Million Stock Position in ConocoPhillips (NYSE:COP)

Clifford Swan Investment Counsel LLC lowered its position in shares of ConocoPhillips (NYSE:COPGet Rating) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,744 shares of the energy producer’s stock after selling 8,770 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in ConocoPhillips were worth $13,585,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in COP. FMR LLC increased its position in shares of ConocoPhillips by 64.8% during the 2nd quarter. FMR LLC now owns 21,177,310 shares of the energy producer’s stock worth $1,901,935,000 after purchasing an additional 8,323,587 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in ConocoPhillips by 12.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 22,866,527 shares of the energy producer’s stock worth $2,053,643,000 after acquiring an additional 2,472,255 shares during the last quarter. Cowa LLC grew its holdings in ConocoPhillips by 6,475.2% during the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after acquiring an additional 2,339,100 shares during the last quarter. PointState Capital LP bought a new stake in ConocoPhillips during the 2nd quarter worth about $110,010,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in ConocoPhillips during the 1st quarter worth about $119,783,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

ConocoPhillips Trading Down 1.7 %

ConocoPhillips stock traded down $1.98 during midday trading on Wednesday, hitting $116.83. 361,058 shares of the stock were exchanged, compared to its average volume of 4,524,310. The company has a fifty day simple moving average of $118.90 and a two-hundred day simple moving average of $112.53. ConocoPhillips has a 52 week low of $78.30 and a 52 week high of $138.49. The stock has a market capitalization of $145.58 billion, a PE ratio of 8.56, a P/E/G ratio of 0.53 and a beta of 1.29. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.33.

ConocoPhillips (NYSE:COPGet Rating) last announced its earnings results on Thursday, November 3rd. The energy producer reported $3.60 EPS for the quarter, topping the consensus estimate of $3.41 by $0.19. The firm had revenue of $21.61 billion for the quarter, compared to the consensus estimate of $17.05 billion. ConocoPhillips had a net margin of 22.90% and a return on equity of 35.02%. Equities research analysts anticipate that ConocoPhillips will post 13.56 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, December 27th were issued a dividend of $0.51 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Friday, December 23rd. ConocoPhillips’s dividend payout ratio (DPR) is 14.70%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $134.90, for a total transaction of $1,477,155.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $134.90, for a total transaction of $1,477,155.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy A. Leach sold 4,860 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $112.58, for a total transaction of $547,138.80. Following the sale, the director now owns 661,142 shares in the company, valued at $74,431,366.36. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, November 7th. Citigroup increased their price objective on shares of ConocoPhillips from $132.00 to $160.00 in a report on Tuesday, November 22nd. Piper Sandler increased their price objective on shares of ConocoPhillips from $155.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday, December 19th. Scotiabank lowered shares of ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $145.00 to $140.00 in a research note on Tuesday, January 17th. Finally, Credit Suisse Group raised their target price on shares of ConocoPhillips from $134.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $136.29.

About ConocoPhillips

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. 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 conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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