Meeder Advisory Services Inc. Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Meeder Advisory Services Inc. reduced its position in shares of ConocoPhillips (NYSE:COP) by 2.8% during the third quarter, HoldingsChannel reports. The firm owned 24,361 shares of the energy producer’s stock after selling 698 shares during the quarter. Meeder Advisory Services Inc.’s holdings in ConocoPhillips were worth $2,565,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vicus Capital increased its position in ConocoPhillips by 3.7% in the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after purchasing an additional 94 shares during the period. Montag A & Associates Inc. grew its position in shares of ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after buying an additional 96 shares during the period. Excalibur Management Corp grew its position in shares of ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after buying an additional 96 shares during the period. First Hawaiian Bank grew its position in shares of ConocoPhillips by 0.3% during the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after buying an additional 97 shares during the period. Finally, Bank OZK grew its position in shares of ConocoPhillips by 1.6% during the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock worth $715,000 after buying an additional 97 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of COP stock opened at $112.75 on Monday. 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 twelve month low of $101.29 and a twelve month high of $135.18. The company has a market cap of $129.77 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.92 and a beta of 1.21. The business has a fifty day simple moving average of $108.01 and a 200 day simple moving average of $111.59.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the company earned $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, sell-side analysts forecast that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company 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 $0.78 dividend. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.77%. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Wall Street Analyst Weigh In

COP has been the subject of several analyst reports. Mizuho boosted their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Susquehanna boosted their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Truist Financial dropped their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Scotiabank dropped their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

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.