Kingsview Wealth Management LLC Sells 3,603 Shares of ConocoPhillips (NYSE:COP)

Kingsview Wealth Management LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,611 shares of the energy producer’s stock after selling 3,603 shares during the quarter. Kingsview Wealth Management LLC’s holdings in ConocoPhillips were worth $2,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EntryPoint Capital LLC acquired a new position in shares of ConocoPhillips in the 1st quarter worth approximately $46,000. Silvercrest Asset Management Group LLC lifted its holdings in ConocoPhillips by 1.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 270,009 shares of the energy producer’s stock valued at $34,367,000 after buying an additional 3,888 shares during the period. Waverly Advisors LLC boosted its position in ConocoPhillips by 33.1% during the first quarter. Waverly Advisors LLC now owns 8,131 shares of the energy producer’s stock valued at $1,035,000 after acquiring an additional 2,023 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its holdings in ConocoPhillips by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 5,064 shares of the energy producer’s stock worth $645,000 after acquiring an additional 213 shares during the period. Finally, Dynasty Wealth Management LLC bought a new position in shares of ConocoPhillips in the 1st quarter worth about $1,283,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.1 %

Shares of COP stock opened at $111.75 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market cap of $128.61 billion, a P/E ratio of 13.29, a PEG ratio of 0.91 and a beta of 1.21. The company has a 50 day moving average of $108.91 and a 200-day moving average of $111.23. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. Sell-side analysts anticipate that ConocoPhillips will post 7.78 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. ConocoPhillips’s payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COP shares. Truist Financial cut their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna raised their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, Mizuho upped their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.63.

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.