Kingswood Wealth Advisors LLC Trims Position in ConocoPhillips (NYSE:COP)

Kingswood Wealth Advisors LLC cut its holdings in shares of ConocoPhillips (NYSE:COP) by 17.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,775 shares of the energy producer’s stock after selling 1,185 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ConocoPhillips were worth $607,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of COP. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the 4th quarter worth approximately $27,000. 10Elms LLP acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $32,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $36,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president now directly owns 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

ConocoPhillips Trading Up 1.0%

Shares of COP opened at $94.76 on Friday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $89.65 and its two-hundred day moving average is $95.52. The stock has a market cap of $119.79 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter in the previous year, the company posted $2.05 EPS. Research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.29%. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Ratings Changes

COP has been the topic of a number of analyst reports. Bank of America dropped their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. Citigroup dropped their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Piper Sandler dropped their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $121.30.

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.