ConocoPhillips $COP Shares Sold by Lyell Wealth Management LP

Key Points

• Lyell Wealth Management LP sold 7,780 shares of ConocoPhillips, reducing its position by 24.7%, currently holding 23,707 shares worth approximately $2.13 million.
• Analysts have recently adjusted their price targets for ConocoPhillips, with BMO Capital Markets increasing it to $117.00, while Wall Street Zen downgraded their rating from "hold" to "sell".
• The company reported a 4.3% year-over-year revenue increase for the last quarter, reaching $14.94 billion, with an EPS of $1.42, exceeding analyst expectations.

Lyell Wealth Management LP reduced its position in ConocoPhillips (NYSE:COP - Free Report) by 24.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,707 shares of the energy producer's stock after selling 7,780 shares during the quarter. Lyell Wealth Management LP's holdings in ConocoPhillips were worth $2,127,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COP. Tritonpoint Wealth LLC lifted its holdings in shares of ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer's stock worth $747,000 after purchasing an additional 110 shares during the period. Iowa State Bank raised its position in ConocoPhillips by 0.5% in the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer's stock worth $1,992,000 after acquiring an additional 110 shares in the last quarter. First National Bank Sioux Falls raised its position in ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer's stock worth $231,000 after acquiring an additional 113 shares in the last quarter. KLCM Advisors Inc. increased its position in shares of ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock valued at $473,000 after buying an additional 115 shares in the last quarter. Finally, Fairvoy Private Wealth LLC increased its position in shares of ConocoPhillips by 3.5% in the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer's stock valued at $314,000 after buying an additional 117 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on COP. Wall Street Zen cut ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Saturday. BMO Capital Markets raised their price target on ConocoPhillips from $115.00 to $117.00 and gave the stock an "outperform" rating in a research note on Monday, October 13th. Wells Fargo & Company began coverage on ConocoPhillips in a research note on Friday. They issued an "equal weight" rating and a $100.00 price target on the stock. Barclays decreased their price target on ConocoPhillips from $122.00 to $118.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 7th. Finally, Roth Capital decreased their price target on ConocoPhillips from $108.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, October 15th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $115.00.

ConocoPhillips Stock Performance

NYSE COP opened at $86.53 on Monday. The firm has a market capitalization of $108.07 billion, a P/E ratio of 11.61, a P/E/G ratio of 2.29 and a beta of 0.62. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The business's 50-day simple moving average is $94.04 and its 200-day simple moving average is $91.91.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 EPS. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.6%. ConocoPhillips's payout ratio is 41.88%.

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.

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