HB Wealth Management LLC Sells 1,080 Shares of ConocoPhillips $COP

HB Wealth Management LLC lowered its position in ConocoPhillips (NYSE:COP) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,169 shares of the energy producer’s stock after selling 1,080 shares during the quarter. HB Wealth Management LLC’s holdings in ConocoPhillips were worth $4,143,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in COP. Charles Schwab Investment Management Inc. increased its holdings in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Nuveen LLC bought a new position in shares of ConocoPhillips in the first quarter worth $658,981,000. AQR Capital Management LLC increased its holdings in shares of ConocoPhillips by 190.5% in the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after purchasing an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of ConocoPhillips by 53.8% in the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after purchasing an additional 1,834,118 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $95.39 on Thursday. The company has a 50-day simple moving average of $94.98 and a two-hundred day simple moving average of $93.00. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The firm has a market cap of $119.13 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.49 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the business posted $1.98 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Melius Research assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Mizuho reduced their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Royal Bank Of Canada reduced their target price on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Finally, Piper Sandler increased their target price on ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $120.14.

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.