Diversify Advisory Services LLC Reduces Stock Position in ConocoPhillips (NYSE:COP)

Diversify Advisory Services LLC trimmed its stake in ConocoPhillips (NYSE:COP - Free Report) by 77.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,270 shares of the energy producer's stock after selling 18,526 shares during the quarter. Diversify Advisory Services LLC's holdings in ConocoPhillips were worth $553,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after acquiring an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC raised its position in ConocoPhillips by 83.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after purchasing an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. increased its holdings in shares of ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after buying an additional 30,000 shares during the period. ORG Wealth Partners LLC increased its holdings in shares of ConocoPhillips by 853.3% in the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after buying an additional 5,922 shares during the period. Finally, Hennessy Advisors Inc. grew its stake in shares of ConocoPhillips by 151.1% in the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after purchasing an additional 54,900 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on COP shares. Royal Bank Of Canada lowered their price objective on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Morgan Stanley reaffirmed an "overweight" rating and set a $119.00 price target on shares of ConocoPhillips in a research note on Tuesday, July 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Scotiabank set a $100.00 price objective on shares of ConocoPhillips and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Finally, Susquehanna dropped their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and an average price target of $120.94.

ConocoPhillips Stock Performance

COP stock traded up $1.97 during trading hours on Tuesday, hitting $92.97. 2,710,575 shares of the stock were exchanged, compared to its average volume of 7,615,548. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The company has a 50-day simple moving average of $91.03 and a two-hundred day simple moving average of $94.53. The firm has a market capitalization of $117.53 billion, a P/E ratio of 11.82, a P/E/G ratio of 2.43 and a beta of 0.61.

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

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

Insider Activity 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 acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Company 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.