Viawealth LLC Reduces Stock Holdings in ConocoPhillips $COP

Viawealth LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,255 shares of the energy producer’s stock after selling 1,041 shares during the quarter. Viawealth LLC’s holdings in ConocoPhillips were worth $1,100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in COP. LPL Financial LLC raised its stake in shares of ConocoPhillips by 6.4% in the first quarter. LPL Financial LLC now owns 1,182,150 shares of the energy producer’s stock worth $124,149,000 after buying an additional 70,759 shares during the period. Prosperity Consulting Group LLC boosted its position in shares of ConocoPhillips by 47.6% in the first quarter. Prosperity Consulting Group LLC now owns 5,466 shares of the energy producer’s stock worth $574,000 after purchasing an additional 1,763 shares during the period. Mackenzie Financial Corp increased its stake in shares of ConocoPhillips by 7.1% in the first quarter. Mackenzie Financial Corp now owns 316,853 shares of the energy producer’s stock worth $33,276,000 after purchasing an additional 21,008 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in ConocoPhillips by 3.8% during the first quarter. Foundations Investment Advisors LLC now owns 13,911 shares of the energy producer’s stock valued at $1,461,000 after acquiring an additional 510 shares during the period. Finally, New Republic Capital LLC bought a new stake in ConocoPhillips during the 1st quarter valued at approximately $213,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven purchased 5,768 shares of the business’s stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday, November 19th. Morgan Stanley lowered their target price on shares of ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating for the company in a research note on Thursday, November 20th. Capital One Financial lifted their target price on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. BMO Capital Markets dropped their price objective on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $115.00 target price on shares of ConocoPhillips in a research report on Monday. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.16.

ConocoPhillips Trading Down 1.1%

Shares of ConocoPhillips stock opened at $86.56 on Wednesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $108.99. The stock has a market cap of $106.96 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.36 and a beta of 0.58. The stock’s 50 day simple moving average is $90.22 and its 200-day simple moving average is $91.90. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 earnings per share. Analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $0.84 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s dividend payout ratio is presently 47.52%.

About ConocoPhillips

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.