Kingswood Wealth Advisors LLC Reduces Stock Position in ConocoPhillips $COP

Kingswood Wealth Advisors LLC cut its holdings in shares of ConocoPhillips (NYSE:COP) by 34.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Tritonpoint Wealth LLC grew its position in shares of ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after acquiring an additional 110 shares in the last quarter. Iowa State Bank grew its position in shares of ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after acquiring an additional 110 shares in the last quarter. First National Bank Sioux Falls grew its position in shares of ConocoPhillips by 4.6% in the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after acquiring an additional 113 shares in the last quarter. KLCM Advisors Inc. grew its position in shares of ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after acquiring an additional 115 shares in the last quarter. Finally, Fairvoy Private Wealth LLC grew its position in shares of ConocoPhillips by 3.5% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after acquiring an additional 117 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 4.5%

Shares of ConocoPhillips stock opened at $87.83 on Friday. The business’s fifty day moving average price is $94.60 and its two-hundred day moving average price is $92.59. 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 company has a market capitalization of $109.70 billion, a P/E ratio of 11.79, a PEG ratio of 2.44 and a beta of 0.62. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm 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 firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.98 EPS. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Evercore ISI reduced their price objective on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. Barclays reduced their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.23.

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.