ConocoPhillips (NYSE:COP) Shares Bought by Wealthspire Advisors LLC

Wealthspire Advisors LLC grew its position in ConocoPhillips (NYSE:COP) by 8.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,145 shares of the energy producer’s stock after purchasing an additional 641 shares during the period. Wealthspire Advisors LLC’s holdings in ConocoPhillips were worth $932,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Sachetta LLC acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $27,000. Cooksen Wealth LLC purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $27,000. Cape Investment Advisory Inc. lifted its holdings in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares in the last quarter. Stephens Consulting LLC lifted 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 valued at $29,000 after acquiring an additional 104 shares in the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in ConocoPhillips during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on COP. Wolfe Research initiated coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Truist Financial decreased their price target on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Sanford C. Bernstein dropped their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Finally, StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Price Performance

Shares of COP opened at $103.50 on Monday. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a market cap of $121.05 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 0.78 and a beta of 1.22. The stock has a 50 day moving average of $110.16 and a 200-day moving average of $116.73.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 earnings per share. As a group, analysts forecast that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

About ConocoPhillips

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.