Leo Wealth LLC Sells 1,443 Shares of ConocoPhillips (NYSE:COP)

Leo Wealth LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 22.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,880 shares of the energy producer’s stock after selling 1,443 shares during the period. Leo Wealth LLC’s holdings in ConocoPhillips were worth $514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stephens Consulting LLC increased its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $31,000. Ruedi Wealth Management Inc. increased its holdings in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Valued Wealth Advisors LLC increased its holdings in ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after acquiring an additional 82 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $104.99 on Wednesday. The business’s 50-day moving average is $108.84 and its two-hundred day moving average is $114.28. ConocoPhillips has a 1 year low of $101.29 and a 1 year 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 firm has a market capitalization of $121.92 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results 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. The business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $1.84 earnings per share. Research analysts anticipate that ConocoPhillips will post 7.95 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 25.86%.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was 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 of the company’s stock, valued at $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 SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COP. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Mizuho lowered their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. BMO Capital Markets increased their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Truist Financial reduced their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Six research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.94.

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.