Bartlett & CO. Wealth Management LLC Lowers Stock Holdings in ConocoPhillips $COP

Bartlett & CO. Wealth Management LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,272 shares of the energy producer’s stock after selling 239 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in ConocoPhillips were worth $2,358,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of COP. NBC Securities Inc. boosted its position in shares of ConocoPhillips by 114,680.0% during the first quarter. NBC Securities Inc. now owns 5,739 shares of the energy producer’s stock worth $602,000 after buying an additional 5,734 shares during the period. Merit Financial Group LLC boosted its position in shares of ConocoPhillips by 89.4% during the first quarter. Merit Financial Group LLC now owns 53,174 shares of the energy producer’s stock worth $5,584,000 after buying an additional 25,097 shares during the period. RFG Advisory LLC boosted its holdings in ConocoPhillips by 71.0% in the first quarter. RFG Advisory LLC now owns 12,400 shares of the energy producer’s stock valued at $1,302,000 after purchasing an additional 5,149 shares during the period. Smith Anglin Financial LLC boosted its holdings in ConocoPhillips by 5.3% in the first quarter. Smith Anglin Financial LLC now owns 3,255 shares of the energy producer’s stock valued at $342,000 after purchasing an additional 164 shares during the period. Finally, Romano Brothers AND Company boosted its holdings in ConocoPhillips by 7.7% in the first quarter. Romano Brothers AND Company now owns 9,747 shares of the energy producer’s stock valued at $1,024,000 after purchasing an additional 700 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 0.8%

ConocoPhillips stock opened at $95.39 on Thursday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. 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 stock has a market cap of $119.13 billion, a PE ratio of 12.80, a P/E/G ratio of 2.49 and a beta of 0.62. The stock’s fifty day moving average is $94.98 and its two-hundred day moving average is $93.00.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period last year, the firm earned $1.98 earnings per share. ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s payout ratio is 41.88%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent research reports. BMO Capital Markets lifted their target price on ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Piper Sandler lifted their target price on ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Finally, Melius Research initiated coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.14.

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.