Kingswood Wealth Advisors LLC Sells 1,224 Shares of ConocoPhillips (NYSE:COP)

Kingswood Wealth Advisors LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,577 shares of the energy producer’s stock after selling 1,224 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ConocoPhillips were worth $1,983,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dark Forest Capital Management LP purchased a new position in shares of ConocoPhillips in the 3rd quarter worth $247,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of ConocoPhillips by 25.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 11,365 shares of the energy producer’s stock valued at $1,361,000 after purchasing an additional 2,275 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of ConocoPhillips by 0.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 30,704 shares of the energy producer’s stock worth $3,678,000 after purchasing an additional 285 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of ConocoPhillips by 4.5% in the third quarter. Parkside Financial Bank & Trust now owns 6,184 shares of the energy producer’s stock worth $741,000 after buying an additional 268 shares during the last quarter. Finally, Operose Advisors LLC grew its position in ConocoPhillips by 426.8% during the third quarter. Operose Advisors LLC now owns 1,001 shares of the energy producer’s stock valued at $120,000 after buying an additional 811 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COP has been the topic of several analyst reports. Truist Financial lifted their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Piper Sandler boosted their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Royal Bank of Canada raised their price objective on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Mizuho cut their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Finally, Scotiabank raised their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Trading Down 1.2 %

COP traded down $1.41 during trading hours on Wednesday, reaching $113.58. 5,366,109 shares of the company’s stock traded hands, compared to its average volume of 5,703,051. ConocoPhillips has a 52-week low of $99.35 and a 52-week high of $135.18. The firm has a market capitalization of $132.84 billion, a PE ratio of 12.86, a PEG ratio of 2.05 and a beta of 1.22. The firm has a 50-day moving average price of $119.17 and a 200 day moving average price of $117.57. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. As a group, sell-side analysts predict that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.75%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

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.