Legal & General Group Plc Sells 58,373 Shares of ConocoPhillips $COP

Legal & General Group Plc lessened its stake in shares of ConocoPhillips (NYSE:COP) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,196,365 shares of the energy producer’s stock after selling 58,373 shares during the period. Legal & General Group Plc’s holdings in ConocoPhillips were worth $645,802,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC grew its stake in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter worth $31,000. Bogart Wealth LLC grew its position in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares in the last quarter. Activest Wealth Management increased its stake in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after buying an additional 293 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COP. Jefferies Financial Group lowered their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Piper Sandler lowered their price target on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. Melius Research initiated coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Evercore ISI lowered their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, October 6th. Finally, Roth Capital dropped their target price on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $115.13.

Insider Buying and Selling at ConocoPhillips

In related news, Director William H. Mcraven acquired 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares in the company, valued at $499,970.24. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $87.33 on Friday. The company has a 50 day moving average of $90.47 and a two-hundred day moving average of $91.87. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $112.73. The company has a market cap of $107.92 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $0.84 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s dividend payout ratio is 47.52%.

ConocoPhillips 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, 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.