ConocoPhillips $COP Shares Sold by Hamlin Capital Management LLC

Hamlin Capital Management LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,451,322 shares of the energy producer’s stock after selling 44,388 shares during the period. ConocoPhillips comprises 3.4% of Hamlin Capital Management LLC’s portfolio, making the stock its 16th largest holding. Hamlin Capital Management LLC’s holdings in ConocoPhillips were worth $150,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of COP. Concurrent Investment Advisors LLC increased its stake in shares of ConocoPhillips by 31.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after acquiring an additional 20,501 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of ConocoPhillips by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after acquiring an additional 14,833 shares during the last quarter. Assetmark Inc. boosted its position in shares of ConocoPhillips by 17.6% in the fourth quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock worth $38,402,000 after acquiring an additional 61,361 shares during the last quarter. Vanguard Group Inc. grew its holdings in ConocoPhillips by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after purchasing an additional 408,304 shares during the period. Finally, Mach 1 Financial Group LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $1,169,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 2.5%

NYSE COP opened at $115.03 on Thursday. The firm has a market capitalization of $140.14 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.42 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company’s 50 day moving average price is $112.98 and its 200 day moving average price is $115.46.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COP. Sanford C. Bernstein increased their price target on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Weiss Ratings reissued a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Mizuho cut their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Finally, Piper Sandler lifted their target price on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.