Souders Financial Advisors Sells 30,396 Shares of ConocoPhillips (NYSE:COP)

Souders Financial Advisors lessened its holdings in ConocoPhillips (NYSE:COP) by 93.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,153 shares of the energy producer’s stock after selling 30,396 shares during the quarter. Souders Financial Advisors’ holdings in ConocoPhillips were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Values First Advisors Inc. bought a new position in ConocoPhillips in the 3rd quarter valued at $26,000. Stephens Consulting LLC grew its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the period. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth $31,000. Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips during the 2nd quarter worth $35,000. Finally, Fairway Wealth LLC grew its stake in shares of ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $111.82 on Thursday. The stock has a market cap of $128.69 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 0.90 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The stock’s 50-day moving average is $107.71 and its 200 day moving average is $111.90.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the firm posted $2.16 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on COP shares. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Truist Financial cut their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Barclays increased their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Sanford C. Bernstein dropped their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.47.

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.