Viawealth LLC Sells 1,041 Shares of ConocoPhillips $COP

Viawealth LLC reduced its stake in ConocoPhillips (NYSE:COP) by 7.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,255 shares of the energy producer’s stock after selling 1,041 shares during the period. Viawealth LLC’s holdings in ConocoPhillips were worth $1,100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 0.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock valued at $3,623,946,000 after purchasing an additional 287,970 shares in the last quarter. Wellington Management Group LLP grew its position in ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after purchasing an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of ConocoPhillips by 15.1% during the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after purchasing an additional 1,073,906 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in ConocoPhillips by 66.0% in the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after acquiring an additional 3,135,315 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on COP shares. Barclays decreased their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. JPMorgan Chase & Co. lowered their price objective on ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 price objective on shares of ConocoPhillips in a report on Monday. Wells Fargo & Company assumed coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target on the stock. Finally, Melius initiated coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Nineteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.16.

Insider Buying and Selling at ConocoPhillips

In related news, Director William H. Mcraven purchased 5,768 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Down 1.1%

Shares of NYSE COP opened at $86.56 on Wednesday. The stock has a market capitalization of $106.96 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.36 and a beta of 0.58. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $108.99. The company has a 50-day moving average price of $90.22 and a 200-day moving average price of $91.90. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. During the same period in the prior year, the company posted $1.78 earnings per share. ConocoPhillips’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.84 dividend. The ex-dividend date is Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.9%. ConocoPhillips’s dividend payout ratio is presently 47.52%.

About ConocoPhillips

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.