International Assets Investment Management LLC Sells 1,326 Shares of ConocoPhillips (NYSE:COP)

International Assets Investment Management LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 10.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,232 shares of the energy producer’s stock after selling 1,326 shares during the period. International Assets Investment Management LLC’s holdings in ConocoPhillips were worth $1,285,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of ConocoPhillips by 0.6% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 159,137 shares of the energy producer’s stock worth $18,202,000 after purchasing an additional 1,026 shares in the last quarter. iA Global Asset Management Inc. grew its holdings in ConocoPhillips by 25.4% during the 2nd quarter. iA Global Asset Management Inc. now owns 22,302 shares of the energy producer’s stock valued at $2,551,000 after buying an additional 4,522 shares in the last quarter. Key Financial Inc grew its holdings in ConocoPhillips by 21.6% during the 2nd quarter. Key Financial Inc now owns 564 shares of the energy producer’s stock valued at $65,000 after buying an additional 100 shares in the last quarter. Boston Financial Mangement LLC raised its position in shares of ConocoPhillips by 7.1% during the second quarter. Boston Financial Mangement LLC now owns 3,442 shares of the energy producer’s stock valued at $394,000 after buying an additional 229 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of ConocoPhillips by 2.5% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 14,007 shares of the energy producer’s stock worth $1,602,000 after buying an additional 337 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Down 0.5 %

Shares of NYSE COP opened at $113.79 on Friday. ConocoPhillips has a 1 year low of $102.27 and a 1 year high of $135.18. The firm has a 50-day simple moving average of $111.68 and a two-hundred day simple moving average of $116.97. The company has a market cap of $133.08 billion, a P/E ratio of 12.89, a PEG ratio of 2.22 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $1.84 EPS. Research analysts anticipate that ConocoPhillips will post 8.64 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. UBS Group raised their target price on shares of ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Mizuho cut their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Truist Financial cut their price target on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Barclays upped their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.65.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.34% of the company’s stock.

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.