Atwood & Palmer Inc. Sells 209 Shares of ConocoPhillips (NYSE:COP)

Atwood & Palmer Inc. trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 25.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 603 shares of the energy producer’s stock after selling 209 shares during the period. Atwood & Palmer Inc.’s holdings in ConocoPhillips were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tallon Kerry Patrick bought a new stake in shares of ConocoPhillips during the 4th quarter valued at $511,000. Silver Oak Securities Incorporated lifted its position in ConocoPhillips by 17.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 2,085 shares of the energy producer’s stock valued at $202,000 after purchasing an additional 311 shares during the last quarter. Vest Financial LLC increased its stake in ConocoPhillips by 27.5% during the fourth quarter. Vest Financial LLC now owns 11,260 shares of the energy producer’s stock worth $1,117,000 after acquiring an additional 2,430 shares during the last quarter. Apollon Wealth Management LLC increased its position in ConocoPhillips by 42.0% during the fourth quarter. Apollon Wealth Management LLC now owns 28,860 shares of the energy producer’s stock valued at $2,862,000 after acquiring an additional 8,533 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its position in ConocoPhillips by 14.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 27,013 shares of the energy producer’s stock worth $2,679,000 after purchasing an additional 3,402 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 0.9%

Shares of ConocoPhillips stock opened at $88.03 on Tuesday. The firm has a market cap of $111.29 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 0.79 and a beta of 0.61. The stock has a 50-day simple moving average of $88.38 and a 200-day simple moving average of $96.15. 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 has a 52-week low of $79.88 and a 52-week high of $118.40.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period last year, the business posted $2.05 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler dropped their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Barclays decreased their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, May 30th. Finally, Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.63.

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.