Scott & Selber Inc. Has $2.45 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Scott & Selber Inc. lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,288 shares of the energy producer’s stock after selling 111 shares during the quarter. Scott & Selber Inc.’s holdings in ConocoPhillips were worth $2,452,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Values First Advisors Inc. acquired a new stake in ConocoPhillips in the 3rd quarter worth $26,000. Stephens Consulting LLC boosted its position in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $31,000. Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips in the second quarter valued at about $35,000. Finally, Fairway Wealth LLC raised its stake in shares of ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on COP. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.47.

Insider Buying and Selling at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 0.0 %

Shares of ConocoPhillips stock opened at $111.59 on Friday. The company’s 50 day moving average price is $107.73 and its 200-day moving average price is $112.40. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The stock has a market capitalization of $128.43 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.93 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company 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 firm earned $2.16 earnings per share. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a $0.78 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.80%. ConocoPhillips’s payout ratio is currently 27.59%.

ConocoPhillips Company 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.