ConocoPhillips $COP Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 21.7% during the third quarter, Holdings Channel reports. The institutional investor owned 475,944 shares of the energy producer’s stock after selling 131,822 shares during the quarter. ConocoPhillips comprises about 1.6% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 22nd biggest position. Miller Howard Investments Inc. NY’s holdings in ConocoPhillips were worth $59,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Carolina Wealth Advisors LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC increased its position in ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Ballast Advisors LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $36,000. Evergreen Advisors LLC bought a new stake in shares of ConocoPhillips during the first quarter worth $36,000. Finally, Allied Private Wealth LLC bought a new position in ConocoPhillips in the second quarter valued at approximately $32,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on COP shares. Freedom Capital raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Stifel Nicolaus began coverage on ConocoPhillips in a research note on Thursday, September 10th. They issued a “hold” rating and a $148.00 price target on the stock. Jefferies Financial Group boosted their price objective on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Mizuho lowered their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $157.00 price target on shares of ConocoPhillips in a research report on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Higher oil prices support energy stocks: Brent crude futures rose above $116 per barrel, a six-month high, helping lift ConocoPhillips and other major oil producers. Because COP’s revenue and cash flow are closely tied to commodity prices, sustained strength in crude could improve earnings and shareholder returns. Why Did XOM, COP, CVX Jump To 52-Week Highs Last Week?
• Positive Sentiment: Optimism ahead of earnings: Analysts expect ConocoPhillips’ third-quarter earnings to rise by double digits when results are released later this month. That outlook could support the stock if production, realized prices, and cash generation meet or exceed expectations. What to Expect From ConocoPhillips’ Next Quarterly Earnings Report
• Positive Sentiment: Higher consensus valuation: A reported 13.63% increase in the consensus price target, to MX$2,845.05, reflects improving analyst sentiment, although the target is quoted in Mexican pesos and may not be directly comparable with U.S.-listed COP. ConocoPhillips Consensus Price Target Raised
• Neutral Sentiment: Canadian restructuring: ConocoPhillips reportedly plans to reduce its Canadian workforce for a second consecutive year, with one report characterizing the cuts as roughly 20% of the Canadian workforce. The move may lower costs, but repeated reductions could also signal efforts to streamline operations or manage regional challenges. ConocoPhillips to Cut Canada Workforce for Second Straight Year

ConocoPhillips Price Performance

Shares of COP opened at $151.53 on Tuesday. The firm has a market capitalization of $182.04 billion, a PE ratio of 19.43, a PEG ratio of 1.47 and a beta of 0.24. The company’s 50-day moving average is $134.09 and its 200-day moving average is $119.70. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $152.77. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. ConocoPhillips’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 EPS. Equities analysts forecast that ConocoPhillips will post 11.42 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio is currently 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.