ConocoPhillips $COP Shares Sold by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. trimmed its position in shares of ConocoPhillips (NYSE:COP) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,359 shares of the energy producer’s stock after selling 302 shares during the quarter. Sovereign Financial Group Inc.’s holdings in ConocoPhillips were worth $212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Network Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC acquired a new position in shares of ConocoPhillips during the first quarter worth about $31,000. Garde Capital Inc. acquired a new position in shares of ConocoPhillips during the first quarter worth about $35,000. IMA Advisory Services Inc. acquired a new position in shares of ConocoPhillips during the first quarter worth about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after acquiring an additional 293 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 4.5%

Shares of NYSE COP opened at $87.83 on Monday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The company has a market capitalization of $109.70 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm’s 50-day moving average is $94.60 and its two-hundred day moving average is $92.44.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is 41.88%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COP. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Piper Sandler upped their target price on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. UBS Group upped their target price on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Finally, Susquehanna lowered their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.52.

ConocoPhillips 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.