Wealthfront Advisers LLC Sells 1,054 Shares of ConocoPhillips $COP

Wealthfront Advisers LLC decreased its stake in shares of ConocoPhillips (NYSE:COP) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 200,238 shares of the energy producer’s stock after selling 1,054 shares during the period. Wealthfront Advisers LLC’s holdings in ConocoPhillips were worth $17,969,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of COP. Allspring Global Investments Holdings LLC boosted its holdings in shares of ConocoPhillips by 8.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 738,540 shares of the energy producer’s stock worth $77,835,000 after buying an additional 54,916 shares during the period. CFM Wealth Partners LLC boosted its holdings in shares of ConocoPhillips by 7.3% during the 1st quarter. CFM Wealth Partners LLC now owns 10,522 shares of the energy producer’s stock worth $1,105,000 after buying an additional 720 shares during the period. Convergence Financial LLC bought a new stake in shares of ConocoPhillips during the 1st quarter worth about $253,000. TBH Global Asset Management LLC boosted its holdings in shares of ConocoPhillips by 50.9% during the 1st quarter. TBH Global Asset Management LLC now owns 25,596 shares of the energy producer’s stock worth $2,688,000 after buying an additional 8,638 shares during the period. Finally, Sovran Advisors LLC boosted its holdings in shares of ConocoPhillips by 77.8% during the 1st quarter. Sovran Advisors LLC now owns 14,852 shares of the energy producer’s stock worth $1,560,000 after buying an additional 6,498 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on COP shares. Roth Capital reduced their target price on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Wall Street Zen cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Royal Bank Of Canada lifted their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Jefferies Financial Group dropped their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, Piper Sandler dropped their price objective on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, October 13th. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $88.01 on Monday. The firm has a 50 day moving average of $93.32 and a 200-day moving average of $91.98. The stock has a market capitalization of $109.92 billion, a PE ratio of 11.81, a PEG ratio of 2.35 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.98 EPS. On average, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal 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 given a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. ConocoPhillips’s payout ratio is presently 41.88%.

ConocoPhillips Company 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.