ConocoPhillips $COP Shares Sold by Parkside Investments LLC

Key Points

• Parkside Investments LLC has decreased its holdings in ConocoPhillips by 21.3%, owning 87,836 shares valued at approximately $7.88 million after selling 23,817 shares.
• ConocoPhillips recently reported an EPS of $1.42 for the quarter, exceeding estimates, with revenue of $14.94 billion, a 4.3% increase from the previous year.
• The company announced a quarterly dividend of $0.78 per share, reflecting an annualized yield of 3.3% and a payout ratio of 41.88%.

Parkside Investments LLC lowered its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 21.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 87,836 shares of the energy producer's stock after selling 23,817 shares during the period. Parkside Investments LLC's holdings in ConocoPhillips were worth $7,881,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Elevation Point Wealth Partners LLC grew its position in ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after buying an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its position in shares of ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after purchasing an additional 30,000 shares in the last quarter. Aberdeen Group plc boosted its position in shares of ConocoPhillips by 49.3% during the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock valued at $83,969,000 after purchasing an additional 264,726 shares in the last quarter. ORG Wealth Partners LLC boosted its position in shares of ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after purchasing an additional 5,922 shares in the last quarter. Finally, Hennessy Advisors Inc. boosted its position in shares of ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock valued at $9,580,000 after purchasing an additional 54,900 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

COP has been the subject of several recent analyst reports. Melius initiated coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price for the company. Mizuho decreased their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Citigroup decreased their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Morgan Stanley restated an "overweight" rating and set a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Finally, Scotiabank raised their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.14.

ConocoPhillips Trading Down 2.8%

NYSE:COP opened at $95.72 on Tuesday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The firm has a market cap of $119.55 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 2.59 and a beta of 0.69. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company's 50 day moving average is $94.95 and its 200-day moving average is $92.97.

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

ConocoPhillips Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 3.3%. 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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