ConocoPhillips (NYSE:COP) Shares Sold by Gries Financial LLC

Gries Financial LLC lessened its stake in ConocoPhillips (NYSE:COP - Free Report) by 35.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,082 shares of the energy producer's stock after selling 2,842 shares during the quarter. Gries Financial LLC's holdings in ConocoPhillips were worth $534,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. LPL Financial LLC grew its stake in ConocoPhillips by 8.8% during the 4th quarter. LPL Financial LLC now owns 1,111,391 shares of the energy producer's stock valued at $110,217,000 after purchasing an additional 90,067 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips during the 4th quarter valued at approximately $32,000. Twin City Private Wealth LLC raised its stake in ConocoPhillips by 3.4% during the 4th quarter. Twin City Private Wealth LLC now owns 7,591 shares of the energy producer's stock valued at $753,000 after acquiring an additional 250 shares in the last quarter. United Services Automobile Association raised its stake in ConocoPhillips by 1.6% during the 4th quarter. United Services Automobile Association now owns 162,762 shares of the energy producer's stock valued at $16,141,000 after acquiring an additional 2,528 shares in the last quarter. Finally, Corebridge Financial Inc. raised its stake in ConocoPhillips by 4.4% during the 4th quarter. Corebridge Financial Inc. now owns 297,300 shares of the energy producer's stock valued at $29,483,000 after acquiring an additional 12,420 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Citigroup dropped their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Barclays dropped their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada dropped their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, July 11th. Finally, Bank of America dropped their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $120.94.

ConocoPhillips Stock Performance

Shares of COP opened at $91.03 on Tuesday. The stock has a market capitalization of $115.08 billion, a P/E ratio of 11.57, a P/E/G ratio of 2.43 and a beta of 0.61. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The company's fifty day moving average is $91.03 and its two-hundred day moving average is $94.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter in the prior year, the company earned $2.05 EPS. On average, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.43%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the company's stock in a transaction on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by company insiders.

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.

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