ConocoPhillips (NYSE:COP) Position Raised by Iams Wealth Management LLC

Iams Wealth Management LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 11.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,203 shares of the energy producer’s stock after acquiring an additional 1,895 shares during the quarter. Iams Wealth Management LLC’s holdings in ConocoPhillips were worth $1,916,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Richardson Capital Management LLC acquired a new stake in ConocoPhillips in the 1st quarter valued at approximately $31,000. Ruedi Wealth Management Inc. grew its stake in shares of ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Stephens Consulting LLC increased its holdings in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the period. Valued Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips during the second quarter valued at about $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $109.47 on Tuesday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The firm has a 50-day moving average of $109.16 and a two-hundred day moving average of $115.34. The firm has a market capitalization of $128.03 billion, a PE ratio of 12.40, a P/E/G ratio of 0.88 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

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

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.12%. ConocoPhillips’s dividend payout ratio is 26.27%.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

COP has been the topic of several research analyst reports. Sanford C. Bernstein lowered their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday. Wells Fargo & Company dropped their target price on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. UBS Group decreased their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Truist Financial lowered their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.12.

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.