Cowa LLC Cuts Shares in ConocoPhillips (NYSE:COP)

Cowa LLC decreased its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 1.9% during the second quarter, Holdings Channel.com reports. The fund owned 19,840 shares of the energy producer’s stock after selling 375 shares during the period. ConocoPhillips accounts for 1.2% of Cowa LLC’s holdings, making the stock its 25th biggest holding. Cowa LLC’s holdings in ConocoPhillips were worth $2,269,000 at the end of the most recent reporting period.

Several other hedge funds have recently bought and sold shares of COP. Valued Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. grew its position in ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after buying an additional 85 shares in the last quarter. Manchester Capital Management LLC boosted its stake in ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares in the last quarter. Adirondack Trust Co. boosted its holdings in ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after purchasing an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC raised its stake in shares of ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s shares.

ConocoPhillips stocks rose 1.7%

COP opened at $110.51 on Friday. The company’s 50-day simple moving average is $109.82, and its two-hundred-day simple moving average is $116.55. The company has a market cap of $129.25 billion, a PE ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.22. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. 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 – Get Your Free Report ) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. In the same period last year, the firm earned $1.84 EPS. As a group, equities analysts forecast that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips cuts dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12. This represents a dividend of $2.32 on an annualized basis and a dividend yield of 2.10%. ConocoPhillips’s payout ratio is currently 26.27%.

Insider work at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. 0.34% of shares are currently held by corporate insiders.

Analysts set new price targets

Several research firms recently issued reports on COP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Scotiabank cut their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Truist Financial cut their price target on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Barclays boosted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Five investment 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’s stock. ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $142.29, based on data from MarketBeat.

Get the latest stock report on ConocoPhillips

ConocoPhillips Company Profile

(Free report)

ConocoPhillips explores, 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 parts from North America; conventional assets in North America, Europe, Asia and Australia; global LNG developments; Canadian oil sands assets; and an inventory of global exploration prospects.

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