ConocoPhillips (NYSE:COP) Shares Sold by Wedmont Private Capital

Wedmont Private Capital decreased its position in shares of ConocoPhillips (NYSE:COP) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,814 shares of the energy producer’s stock after selling 1,740 shares during the quarter. Wedmont Private Capital’s holdings in ConocoPhillips were worth $1,814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at $27,000. Stephens Consulting LLC grew its stake in ConocoPhillips by 69.3% in 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 during the last quarter. Richardson Capital Management LLC purchased a new position in ConocoPhillips during the 1st quarter valued at about $31,000. Northwest Bank & Trust Co purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $32,000. Finally, Ruedi Wealth Management Inc. grew its position in shares of ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated 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 $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by insiders.

ConocoPhillips Price Performance

COP stock opened at $110.98 on Thursday. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $129.79 billion, a PE ratio of 12.57, a P/E/G ratio of 0.87 and a beta of 1.21. The stock’s 50 day moving average is $108.90 and its two-hundred day moving average is $115.79.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $14.96 billion. During the same period last year, the firm earned $1.84 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts predict 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 issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Sanford C. Bernstein cut their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group decreased their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna dropped their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, Truist Financial cut their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.29.

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.