Teamwork Financial Advisors LLC Sells 16,450 Shares of ConocoPhillips (NYSE:COP)

Teamwork Financial Advisors LLC trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 84.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,960 shares of the energy producer’s stock after selling 16,450 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in ConocoPhillips were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Greenup Street Wealth Management LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at $1,383,000. Good Life Advisors LLC lifted its holdings in shares of ConocoPhillips by 1.7% during the third quarter. Good Life Advisors LLC now owns 9,874 shares of the energy producer’s stock valued at $1,040,000 after acquiring an additional 162 shares during the period. Probity Advisors Inc. boosted its stake in shares of ConocoPhillips by 4.4% in the 3rd quarter. Probity Advisors Inc. now owns 9,145 shares of the energy producer’s stock valued at $963,000 after purchasing an additional 389 shares in the last quarter. Community Bank of Raymore grew its holdings in shares of ConocoPhillips by 2.0% in the 3rd quarter. Community Bank of Raymore now owns 12,939 shares of the energy producer’s stock worth $1,362,000 after purchasing an additional 250 shares during the last quarter. Finally, Kowal Investment Group LLC increased its position in shares of ConocoPhillips by 5.6% during the 3rd quarter. Kowal Investment Group LLC now owns 7,110 shares of the energy producer’s stock worth $749,000 after purchasing an additional 375 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on COP shares. Susquehanna reduced their price target on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a research report on Friday. Barclays decreased their price target on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial cut their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Sanford C. Bernstein decreased their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Scotiabank lowered their target price 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. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.94.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated 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 sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Stock Down 0.5 %

Shares of ConocoPhillips stock opened at $105.64 on Friday. The business has a fifty day simple moving average of $109.01 and a 200 day simple moving average of $114.90. The stock has a market cap of $122.67 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 EPS. Research analysts predict that ConocoPhillips will post 7.99 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 25.86%.

ConocoPhillips 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.