Mission Creek Capital Partners Inc. Trims Holdings in ConocoPhillips (NYSE:COP)

Posted by Defense World Staff on Sep 10th, 2023

ConocoPhillips logo Mission Creek Capital Partners Inc. decreased its holdings in ConocoPhillips (NYSE:COP – Free Report) by 23.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,374 shares of the energy producer’s stock after selling 1,314 shares during the quarter. Mission Creek Capital Partners Inc.’s holdings in ConocoPhillips were worth $434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealthspan Partners LLC increased its holdings in ConocoPhillips by 1.6% in the 4th quarter. Wealthspan Partners LLC now owns 6,245 shares of the energy producer’s stock worth $737,000 after purchasing an additional 98 shares in the last quarter. Horan Securities Inc. increased its stake in shares of ConocoPhillips by 40.2% in the first quarter. Horan Securities Inc. now owns 349 shares of the energy producer’s stock valued at $35,000 after buying an additional 100 shares during the period. Barden Capital Management Inc. increased its stake in shares of ConocoPhillips by 1.0% in the first quarter. Barden Capital Management Inc. now owns 10,562 shares of the energy producer’s stock valued at $1,048,000 after buying an additional 100 shares during the period. Holderness Investments Co. grew its stake in ConocoPhillips by 1.5% during the first quarter. Holderness Investments Co. now owns 6,882 shares of the energy producer’s stock worth $683,000 after purchasing an additional 101 shares during the period. Finally, LCM Capital Management Inc grew its stake in ConocoPhillips by 5.3% during the first quarter. LCM Capital Management Inc now owns 2,036 shares of the energy producer’s stock worth $202,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Insider Activity

In related news, CEO Ryan Michael Lance sold 569,400 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $122.14, for a total value of $69,546,516.00. Following the completion of the sale, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on COP. Raymond James cut their price target on ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a report on Monday, July 24th. Piper Sandler decreased their price target on ConocoPhillips from $149.00 to $125.00 in a research report on Tuesday, June 13th. Truist Financial raised their target price on ConocoPhillips from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. UBS Group raised their target price on ConocoPhillips from $127.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Erste Group Bank upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.42.

Check Out Our Latest Research Report on COP

ConocoPhillips Stock Performance

NYSE COP opened at $122.72 on Friday. ConocoPhillips has a 1-year low of $91.53 and a 1-year high of $138.49. The company has a market cap of $146.96 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.75 and a beta of 1.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.28. The stock’s 50 day simple moving average is $114.26 and its 200-day simple moving average is $106.62.

ConocoPhillips (NYSE:COP – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.10). The business had revenue of $12.88 billion during the quarter, compared to analyst estimates of $14.64 billion. ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. During the same period last year, the company earned $3.91 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 8.87 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, September 28th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $2.04 annualized dividend and a yield of 1.66%. ConocoPhillips’s dividend payout ratio (DPR) is 19.65%.

About ConocoPhillips

(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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.