US Asset Management LLC Cuts Stake in ConocoPhillips (NYSE:COP)

US Asset Management LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,235 shares of the energy producer’s stock after selling 183 shares during the period. US Asset Management LLC’s holdings in ConocoPhillips were worth $599,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Sachetta LLC purchased a new position in ConocoPhillips in the fourth quarter valued at $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at about $27,000. Cape Investment Advisory Inc. boosted its stake in shares of ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares during the period. Stephens Consulting LLC grew its position in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares in the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on COP. Truist Financial lowered their price target on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Raymond James reiterated a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Susquehanna cut their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Scotiabank cut their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Trading Up 0.6 %

Shares of ConocoPhillips stock opened at $103.50 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The firm has a market cap of $120.19 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company’s 50-day simple moving average is $110.16 and its 200-day simple moving average is $116.67.

ConocoPhillips (NYSE:COP) last issued its 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 business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.24%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

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.