Stratos Wealth Partners LTD. lessened its stake in ConocoPhillips (NYSE:COP) by 26.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,597 shares of the energy producer’s stock after selling 7,566 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in ConocoPhillips were worth $866,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pearl River Capital LLC purchased a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $26,000. Bay Harbor Wealth Management LLC boosted its stake in shares of ConocoPhillips by 3,096.2% during the 1st quarter. Bay Harbor Wealth Management LLC now owns 831 shares of the energy producer’s stock valued at $26,000 after buying an additional 805 shares during the last quarter. Lenox Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 2,105.6% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 794 shares of the energy producer’s stock valued at $33,000 after buying an additional 758 shares during the last quarter. Capital Advisory Group Advisory Services LLC purchased a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $34,000. Finally, Capital Square LLC purchased a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.
In other ConocoPhillips news, Director David Thomas Seaton purchased 2,400 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $41.03 per share, with a total value of $98,472.00. Following the completion of the purchase, the director now owns 2,500 shares in the company, valued at approximately $102,575. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.
COP has been the subject of several research analyst reports. Mizuho increased their target price on ConocoPhillips from $37.00 to $46.00 in a research note on Friday, June 19th. Cfra lowered ConocoPhillips to a “hold” rating and set a $50.00 price target on the stock. in a research report on Wednesday, June 10th. UBS Group upped their price target on ConocoPhillips from $50.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Wells Fargo & Co upped their price target on ConocoPhillips from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Finally, Piper Sandler upped their price target on ConocoPhillips from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $56.25.
Shares of NYSE COP opened at $37.39 on Friday. ConocoPhillips has a 1-year low of $20.84 and a 1-year high of $67.13. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.69 and a quick ratio of 2.04. The business’s fifty day moving average price is $41.34 and its two-hundred day moving average price is $44.25. The firm has a market capitalization of $40.10 billion, a PE ratio of 18.42 and a beta of 1.69.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 30th. The energy producer reported ($0.92) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by ($0.34). ConocoPhillips had a return on equity of 3.72% and a net margin of 8.49%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the company posted $1.01 EPS. Equities research analysts expect that ConocoPhillips will post -0.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.68 annualized dividend and a dividend yield of 4.49%. ConocoPhillips’s payout ratio is 46.80%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its 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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