My Legacy Advisors LLC decreased its stake in shares of ConocoPhillips (NYSE:COP – Get Rating) by 38.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,618 shares of the energy producer’s stock after selling 2,255 shares during the period. My Legacy Advisors LLC’s holdings in ConocoPhillips were worth $310,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. James Investment Research Inc. purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $29,000. Fairfield Bush & CO. purchased a new position in ConocoPhillips in the first quarter worth $31,000. Versant Capital Management Inc boosted its position in ConocoPhillips by 93.1% in the first quarter. Versant Capital Management Inc now owns 365 shares of the energy producer’s stock worth $37,000 after purchasing an additional 176 shares during the last quarter. Delos Wealth Advisors LLC boosted its position in ConocoPhillips by 1,300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock worth $27,000 after purchasing an additional 351 shares during the last quarter. Finally, DeDora Capital Inc. purchased a new position in ConocoPhillips in the first quarter worth $39,000. Hedge funds and other institutional investors own 79.66% of the company’s stock.
Insiders Place Their Bets
In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.40% of the company’s stock.
ConocoPhillips Stock Performance
ConocoPhillips (NYSE:COP – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.04). ConocoPhillips had a net margin of 23.10% and a return on equity of 31.24%. During the same period in the prior year, the business earned $1.27 EPS. Research analysts predict that ConocoPhillips will post 14.68 EPS for the current year.
ConocoPhillips Dividend Announcement
The firm also recently announced a None dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be paid a $1.40 dividend. The ex-dividend date is Thursday, September 29th. ConocoPhillips’s dividend payout ratio is currently 15.19%.
Analyst Ratings Changes
Several research firms have weighed in on COP. Mizuho cut their price objective on ConocoPhillips from $148.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, August 18th. Barclays boosted their price objective on ConocoPhillips from $142.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 31st. Truist Financial cut their price objective on ConocoPhillips from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. MKM Partners boosted their price objective on ConocoPhillips from $110.00 to $118.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. Finally, Bank of America upped their price target on ConocoPhillips from $134.00 to $140.00 and gave the company a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.79.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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