Mather Group LLC. Has $3.96 Million Stock Position in ConocoPhillips (NYSE:COP)

Mather Group LLC. reduced its stake in ConocoPhillips (NYSE:COP) by 27.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,618 shares of the energy producer’s stock after selling 13,948 shares during the quarter. Mather Group LLC.’s holdings in ConocoPhillips were worth $3,960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips in the fourth quarter worth approximately $27,000. Richardson Capital Management LLC bought a new stake in ConocoPhillips in the first quarter worth approximately $31,000. Ruedi Wealth Management Inc. increased its holdings in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Stephens Consulting LLC increased its holdings in ConocoPhillips by 69.3% in 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 in the last quarter. Finally, Valued Wealth Advisors LLC increased its holdings in ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction 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 transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Down 3.4 %

Shares of ConocoPhillips stock opened at $110.80 on Wednesday. The stock has a fifty day simple moving average of $108.88 and a 200 day simple moving average of $115.88. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a market capitalization of $129.58 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that ConocoPhillips will post 8.02 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.09%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial lowered their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Scotiabank lowered their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. UBS Group lowered their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company decreased their price objective on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Finally, Mizuho decreased their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $138.29.

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.