Curated Wealth Partners LLC Sells 316,322 Shares of ConocoPhillips $COP

Key Points

• Curated Wealth Partners slashed its ConocoPhillips stake by 96.9% in the third quarter, selling 316,322 shares and retaining 10,235 shares valued at approximately $1.28 million. Institutional investors collectively own 82.36% of COP.
• ConocoPhillips reported stronger-than-expected quarterly results, with EPS of $3.24 versus the $2.90 consensus and revenue of $19.52 billion, up 32.4% year over year.
• COP traded near its 12-month high at $142.25, while analysts maintained a “Moderate Buy” consensus and an average price target of $143.62. The company also pays a quarterly dividend of $0.84, yielding approximately 2.4% annually.

Curated Wealth Partners LLC cut its stake in ConocoPhillips (NYSE:COP - Free Report) by 96.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,235 shares of the energy producer's stock after selling 316,322 shares during the quarter. Curated Wealth Partners LLC's holdings in ConocoPhillips were worth $1,281,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. B. Metzler seel. Sohn & Co. AG bought a new stake in ConocoPhillips in the second quarter worth about $6,896,000. Qsemble Capital Management LP bought a new position in shares of ConocoPhillips during the second quarter valued at approximately $3,645,000. Cetera Trust Company N.A bought a new position in shares of ConocoPhillips during the second quarter valued at approximately $870,000. Venture Visionary Partners LLC grew its stake in shares of ConocoPhillips by 263.6% during the third quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer's stock valued at $14,850,000 after buying an additional 86,019 shares during the last quarter. Finally, Nicholas Investment Partners LP purchased a new stake in shares of ConocoPhillips in the second quarter worth approximately $6,498,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total value 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 $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by insiders.

ConocoPhillips Stock Down 0.1%

NYSE COP traded down $0.09 on Thursday, reaching $142.25. 2,444,292 shares of the stock traded hands, compared to its average volume of 8,044,229. 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 company has a fifty day moving average price of $131.03 and a 200-day moving average price of $122.22. The company has a market cap of $170.89 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.44 and a beta of 0.24. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $143.13.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping 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 business had revenue of $19.52 billion during the quarter, compared to analysts' expectations of $18.79 billion. During the same period in the prior year, the business earned $1.42 EPS. The business's revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 10.84 EPS for the current fiscal 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 $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, August 17th. ConocoPhillips's payout ratio is presently 44.44%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price target on ConocoPhillips from $144.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Roth Capital upgraded ConocoPhillips from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Barclays cut their price objective on ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, August 17th. Morgan Stanley increased their target price on ConocoPhillips from $151.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.62.

ConocoPhillips Company Profile

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

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

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