ConocoPhillips $COP Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 96.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,235 shares of the energy producer’s stock after selling 316,322 shares during the quarter. Curated Wealth Partners LLC’s holdings in ConocoPhillips were worth $1,281,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in ConocoPhillips by 73.2% in the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock worth $12,328,767,000 after purchasing an additional 50,116,727 shares in the last quarter. BlackRock Inc. lifted its position in shares of ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after buying an additional 2,712,703 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of ConocoPhillips by 12.0% during the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock valued at $1,566,901,000 after buying an additional 1,609,759 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of ConocoPhillips by 2.2% in the 4th quarter. Invesco Ltd. now owns 13,413,036 shares of the energy producer’s stock valued at $1,255,594,000 after buying an additional 290,888 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $1,260,482,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of analyst reports. Susquehanna lifted their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Argus increased their target price on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Freedom Capital raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Morgan Stanley lifted their price target on shares of ConocoPhillips from $151.00 to $159.00 and gave the stock an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.62.

Insiders Place Their Bets

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $0.09 during mid-day trading on Thursday, reaching $142.25. 2,444,292 shares of the company traded hands, compared to its average volume of 8,044,229. The firm’s fifty day moving average is $131.03 and its two-hundred day moving average is $122.22. The company has a market capitalization of $170.89 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 1.44 and a beta of 0.24. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $143.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 10.84 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s payout ratio is presently 44.44%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.