ConocoPhillips (NYSE:COP) Shares Sold by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC decreased its position in ConocoPhillips (NYSE:COP) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,664 shares of the energy producer’s stock after selling 243 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in ConocoPhillips were worth $386,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in COP. Stephens Consulting LLC lifted its stake in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Ruedi Wealth Management Inc. boosted its holdings in shares of ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Valued Wealth Advisors LLC grew its position in shares of ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in ConocoPhillips during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $104.99 on Wednesday. The business’s fifty day moving average price is $108.84 and its 200 day moving average price is $114.28. The firm has a market capitalization of $121.92 billion, a PE ratio of 11.70, a P/E/G ratio of 0.85 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 7.95 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.21%. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.86%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Susquehanna cut their target price on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Sanford C. Bernstein lowered their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Truist Financial reduced their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $136.94.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s 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 sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

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.