Adamsbrown Wealth Consultants LLC Sells 236 Shares of ConocoPhillips (NYSE:COP)

Adamsbrown Wealth Consultants LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,261 shares of the energy producer’s stock after selling 236 shares during the period. Adamsbrown Wealth Consultants LLC’s holdings in ConocoPhillips were worth $238,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in COP. Stephens Consulting LLC lifted its stake in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Richardson Capital Management LLC bought a new position in ConocoPhillips during the first quarter worth about $31,000. Northwest Bank & Trust Co bought a new position in ConocoPhillips during the fourth quarter worth about $32,000. Ruedi Wealth Management Inc. increased its position in ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Finally, Valued Wealth Advisors LLC raised its stake in ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on COP shares. Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Susquehanna lowered their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $137.12.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

COP traded down $0.72 on Monday, hitting $109.77. 286,426 shares of the stock were exchanged, compared to its average volume of 5,920,182. The firm has a market capitalization of $128.38 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The business has a 50-day moving average of $109.06 and a two-hundred day moving average of $115.47.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 EPS. Sell-side analysts forecast that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.