Sunbelt Securities Inc. Purchases 341 Shares of ConocoPhillips (NYSE:COP)

Sunbelt Securities Inc. grew its position in ConocoPhillips (NYSE:COP) by 1.3% during the second quarter, HoldingsChannel reports. The firm owned 27,245 shares of the energy producer’s stock after buying an additional 341 shares during the quarter. Sunbelt Securities Inc.’s holdings in ConocoPhillips were worth $3,116,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Valued Wealth Advisors LLC boosted its stake in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its stake in ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after buying an additional 85 shares in the last quarter. Manchester Capital Management LLC boosted its stake in ConocoPhillips by 22.1% during the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after buying an additional 86 shares in the last quarter. Adirondack Trust Co. boosted its stake in ConocoPhillips by 3.1% during the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after buying an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC boosted its stake in ConocoPhillips by 3.5% during the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after buying an additional 90 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP stock opened at $104.72 on Monday. The company has a 50 day moving average price of $108.85 and a 200 day moving average price of $116.31. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The stock has a market capitalization of $122.47 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share 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 company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 8.14 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. ConocoPhillips’s payout ratio is presently 26.27%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on COP shares. Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday. Bank of America reiterated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Susquehanna cut their price objective on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Truist Financial cut their price objective on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Wolfe Research began coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. Five equities research 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 stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $141.24.

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.