Parallel Advisors LLC Sells 4,717 Shares of ConocoPhillips (NYSE:COP)

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Parallel Advisors LLC decreased its stake in shares of ConocoPhillips (NYSE:COP) by 20.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,773 shares of the energy producer’s stock after selling 4,717 shares during the quarter. Parallel Advisors LLC’s holdings in ConocoPhillips were worth $617,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. OLD Point Trust & Financial Services N A boosted its position in shares of ConocoPhillips by 1.1% during the 3rd quarter. OLD Point Trust & Financial Services N A now owns 87,141 shares of the energy producer’s stock valued at $2,861,000 after acquiring an additional 950 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in shares of ConocoPhillips by 18.1% during the 3rd quarter. New Mexico Educational Retirement Board now owns 87,156 shares of the energy producer’s stock valued at $4,966,000 after acquiring an additional 13,350 shares in the last quarter. Guinness Asset Management LTD boosted its position in shares of ConocoPhillips by 0.8% during the 3rd quarter. Guinness Asset Management LTD now owns 110,900 shares of the energy producer’s stock valued at $3,642,000 after acquiring an additional 900 shares in the last quarter. Naples Global Advisors LLC boosted its position in shares of ConocoPhillips by 20.9% during the 3rd quarter. Naples Global Advisors LLC now owns 10,642 shares of the energy producer’s stock valued at $349,000 after acquiring an additional 1,837 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its position in shares of ConocoPhillips by 117.4% during the 3rd quarter. Alberta Investment Management Corp now owns 141,100 shares of the energy producer’s stock valued at $4,634,000 after acquiring an additional 76,200 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

Shares of COP traded down $0.88 on Friday, reaching $28.28. 608,366 shares of the company’s stock were exchanged, compared to its average volume of 8,908,836. The company has a current ratio of 2.69, a quick ratio of 2.45 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $31.27 billion, a P/E ratio of 14.26 and a beta of 1.68. The business has a 50 day moving average price of $33.58 and a two-hundred day moving average price of $38.59. ConocoPhillips has a 12 month low of $20.84 and a 12 month high of $67.13.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 29th. The energy producer reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.01). ConocoPhillips had a return on equity of 3.72% and a net margin of 8.49%. During the same quarter in the prior year, the company earned $0.82 EPS. Equities research analysts predict that ConocoPhillips will post -0.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, October 19th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.08%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, October 16th. ConocoPhillips’s payout ratio is 47.91%.

Several analysts have recently weighed in on the stock. SunTrust Banks assumed coverage on shares of ConocoPhillips in a research report on Thursday, July 23rd. They set a “buy” rating and a $51.00 target price on the stock. Wells Fargo & Company restated a “buy” rating on shares of ConocoPhillips in a research report on Tuesday, September 15th. Scotiabank reduced their price target on shares of ConocoPhillips from $50.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Monday, July 13th. Raymond James boosted their price target on shares of ConocoPhillips from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Finally, Piper Sandler boosted their price target on shares of ConocoPhillips from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips has an average rating of “Buy” and a consensus price target of $54.50.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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