ConocoPhillips $COP Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC reduced its position in ConocoPhillips (NYSE:COP) by 34.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,779 shares of the energy producer’s stock after selling 1,996 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ConocoPhillips were worth $339,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COP. Focus Financial Network Inc. raised its stake in shares of ConocoPhillips by 2.9% during the first quarter. Focus Financial Network Inc. now owns 5,217 shares of the energy producer’s stock worth $548,000 after purchasing an additional 147 shares during the last quarter. Simon Quick Advisors LLC raised its stake in shares of ConocoPhillips by 18.8% during the first quarter. Simon Quick Advisors LLC now owns 6,763 shares of the energy producer’s stock worth $710,000 after purchasing an additional 1,068 shares during the last quarter. Union Bancaire Privee UBP SA raised its stake in shares of ConocoPhillips by 389.9% during the first quarter. Union Bancaire Privee UBP SA now owns 8,417 shares of the energy producer’s stock worth $884,000 after purchasing an additional 6,699 shares during the last quarter. Parkside Investments LLC raised its stake in shares of ConocoPhillips by 11.6% during the first quarter. Parkside Investments LLC now owns 111,653 shares of the energy producer’s stock worth $11,726,000 after purchasing an additional 11,645 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC raised its position in ConocoPhillips by 3.2% in the first quarter. NorthCrest Asset Manangement LLC now owns 54,051 shares of the energy producer’s stock worth $5,676,000 after acquiring an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $87.83 on Friday. The company has a market cap of $109.70 billion, a P/E ratio of 11.79, a PEG ratio of 2.44 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The business’s 50-day simple moving average is $94.60 and its 200 day simple moving average is $92.59.

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

ConocoPhillips Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on COP shares. Royal Bank Of Canada cut their price objective on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, July 11th. Melius Research began coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Susquehanna decreased their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Raymond James Financial decreased their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Sixteen analysts have rated the stock with a Buy rating and five 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 $117.23.

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.