Strategic Wealth Partners Ltd. Sells 2,514 Shares of ConocoPhillips (NYSE:COP)

Strategic Wealth Partners Ltd. reduced its holdings in ConocoPhillips (NYSE:COP) by 50.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,433 shares of the energy producer’s stock after selling 2,514 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in ConocoPhillips were worth $236,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in COP. Tallon Kerry Patrick bought a new stake in shares of ConocoPhillips in the fourth quarter valued at about $511,000. Wealthcare Advisory Partners LLC lifted its position in shares of ConocoPhillips by 20.3% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 12,051 shares of the energy producer’s stock worth $1,195,000 after acquiring an additional 2,037 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of ConocoPhillips by 18.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,561 shares of the energy producer’s stock worth $254,000 after acquiring an additional 393 shares during the period. Merit Financial Group LLC grew its holdings in shares of ConocoPhillips by 47.7% during the 4th quarter. Merit Financial Group LLC now owns 28,077 shares of the energy producer’s stock worth $2,784,000 after purchasing an additional 9,068 shares in the last quarter. Finally, Sax Wealth Advisors LLC increased its position in shares of ConocoPhillips by 9.8% during the fourth quarter. Sax Wealth Advisors LLC now owns 2,690 shares of the energy producer’s stock valued at $267,000 after purchasing an additional 241 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COP shares. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Scotiabank reduced their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research note on Thursday, January 30th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Piper Sandler decreased their price objective on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $122.74.

ConocoPhillips Stock Down 2.3%

NYSE COP opened at $90.33 on Tuesday. The stock’s 50 day simple moving average is $93.09 and its 200 day simple moving average is $98.84. ConocoPhillips has a one year low of $79.88 and a one year high of $122.11. The firm has a market cap of $114.19 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.45%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s payout ratio is presently 39.64%.

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.