Brookmont Capital Management Sells 15,512 Shares of ConocoPhillips $COP

Key Points

• Brookmont Capital Management cut its ConocoPhillips stake by 54.9%, selling 15,512 shares in the third quarter and retaining 12,727 shares valued at approximately $1.59 million.
• Analysts remain broadly positive, with ConocoPhillips holding a consensus “Moderate Buy” rating and an average price target of $145. Institutional investors and hedge funds own 82.36% of the company.
• ConocoPhillips reported quarterly earnings of $3.24 per share, surpassing expectations, while revenue rose 32.4% year over year to $19.52 billion. The company also pays a quarterly dividend of $0.84 per share, representing a 2.2% yield.

Brookmont Capital Management trimmed its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 54.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,727 shares of the energy producer's stock after selling 15,512 shares during the period. Brookmont Capital Management's holdings in ConocoPhillips were worth $1,593,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of COP. Carolina Wealth Advisors LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth approximately $28,000. Mascoma Wealth Management LLC increased its stake in shares of ConocoPhillips by 122.9% in the third quarter. Mascoma Wealth Management LLC now owns 535 shares of the energy producer's stock worth $67,000 after acquiring an additional 295 shares during the last quarter. Gibbs Wealth Management raised its holdings in shares of ConocoPhillips by 1.7% during the third quarter. Gibbs Wealth Management now owns 6,450 shares of the energy producer's stock worth $807,000 after acquiring an additional 110 shares in the last quarter. Barrett & Company Inc. raised its holdings in shares of ConocoPhillips by 12.1% during the third quarter. Barrett & Company Inc. now owns 3,152 shares of the energy producer's stock worth $394,000 after acquiring an additional 340 shares in the last quarter. Finally, Rahlfs Capital LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth $870,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. The Goldman Sachs Group reissued a "buy" rating and set a $157.00 price objective on shares of ConocoPhillips in a research report on Tuesday. UBS Group upped their target price on ConocoPhillips from $153.00 to $169.00 and gave the stock a "buy" rating in a research report on Monday, September 14th. Jefferies Financial Group raised their price target on ConocoPhillips from $159.00 to $174.00 and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Weiss Ratings upgraded ConocoPhillips from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 29th. Finally, Raymond James Financial reissued an "underperform" rating and issued a $168.00 price target on shares of ConocoPhillips in a research note on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price of $145.00.

Insider Activity

In related news, SVP Andrew Lundquist sold 9,487 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company's stock.

ConocoPhillips Stock Up 3.6%

COP opened at $150.91 on Friday. The firm has a market cap of $181.30 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.50 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The business has a 50 day moving average price of $134.24 and a 200 day moving average price of $123.00. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $152.77.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter last year, the company posted $1.42 earnings per share. The company's revenue for the quarter was up 32.4% compared to the same quarter last year. Research analysts forecast that ConocoPhillips will post 11.42 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips's dividend payout ratio is currently 44.44%.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company's portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.

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