ConocoPhillips (NYSE:COP) Position Cut by Allworth Financial LP

Allworth Financial LP lowered its position in shares of ConocoPhillips (NYSE:COP) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,684 shares of the energy producer’s stock after selling 106 shares during the period. Allworth Financial LP’s holdings in ConocoPhillips were worth $2,072,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Bank of Stockton grew its position in ConocoPhillips by 129.2% in the 3rd quarter. Bank of Stockton now owns 11,182 shares of the energy producer’s stock worth $1,177,000 after purchasing an additional 6,303 shares during the last quarter. Mediolanum International Funds Ltd grew its holdings in ConocoPhillips by 2.8% in the 3rd quarter. Mediolanum International Funds Ltd now owns 382,825 shares of the energy producer’s stock worth $40,023,000 after buying an additional 10,381 shares in the last quarter. Lake Street Advisors Group LLC increased its position in ConocoPhillips by 2.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 8,297 shares of the energy producer’s stock valued at $874,000 after acquiring an additional 172 shares during the period. Strategic Investment Solutions Inc. IL increased its position in ConocoPhillips by 63.5% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 870 shares of the energy producer’s stock valued at $92,000 after acquiring an additional 338 shares during the period. Finally, Cullinan Associates Inc. raised its stake in ConocoPhillips by 1.3% during the 3rd quarter. Cullinan Associates Inc. now owns 22,979 shares of the energy producer’s stock valued at $2,423,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $104.56 on Monday. The stock has a market cap of $122.29 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.84 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 has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a fifty day moving average price of $108.47 and a 200 day moving average price of $113.68.

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

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.22%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analyst Ratings Changes

Several research analysts have recently issued reports on COP shares. Mizuho decreased their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. BMO Capital Markets raised their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Sanford C. Bernstein dropped their price target 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. UBS Group decreased their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ConocoPhillips 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 business’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 completion of the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by insiders.

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.