Umpqua Bank Sells 2,174 Shares of ConocoPhillips (NYSE:COP)

by · The Cerbat Gem

Umpqua Bank lessened its holdings in ConocoPhillips (NYSE:COP – Free Report) by 23.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,155 shares of the energy producer’s stock after selling 2,174 shares during the quarter. Umpqua Bank’s holdings in ConocoPhillips were worth $753,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips during the third quarter worth approximately $26,000. Stephens Consulting LLC raised its holdings in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth approximately $31,000. Ruedi Wealth Management Inc. raised its position in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new position in ConocoPhillips during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP traded up $3.29 during mid-day trading on Wednesday, reaching $112.50. 549,369 shares of the company traded hands, compared to its average volume of 5,880,495. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The stock has a market capitalization of $129.48 billion, a P/E ratio of 12.99, a P/E/G ratio of 0.88 and a beta of 1.21. The company’s fifty day moving average price is $107.78 and its 200-day moving average price is $112.52.

ConocoPhillips (NYSE:COP – Get Free Report) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 7.78 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 27.59%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on COP shares. Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Barclays increased their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.47.

View Our Latest Stock Analysis on ConocoPhillips

ConocoPhillips Profile

(Free Report)

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.

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