Focus Partners Advisor Solutions LLC Reduces Stock Position in ConocoPhillips $COP

Key Points

• Focus Partners Advisor Solutions LLC has reduced its stake in ConocoPhillips by 25.6%, owning 37,426 shares valued at approximately $3.36 million after selling 12,888 shares in the second quarter.
• Several institutional investors significantly increased their positions in ConocoPhillips, with Charles Schwab Investment Management boosting its stake by 379.7%, now holding over 40 million shares.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, representing a 3.5% dividend yield, and a payout ratio of 41.88%.

Focus Partners Advisor Solutions LLC cut its stake in ConocoPhillips (NYSE:COP - Free Report) by 25.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,426 shares of the energy producer's stock after selling 12,888 shares during the period. Focus Partners Advisor Solutions LLC's holdings in ConocoPhillips were worth $3,359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP increased its position in shares of ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer's stock valued at $3,319,746,000 after acquiring an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock valued at $942,297,000 after acquiring an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of ConocoPhillips by 15.1% during the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer's stock valued at $861,490,000 after acquiring an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC bought a new stake in ConocoPhillips in the 1st quarter worth approximately $658,981,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COP shares. Mizuho cut their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Piper Sandler cut their target price on shares of ConocoPhillips from $124.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, October 13th. Weiss Ratings downgraded shares of ConocoPhillips from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on shares of ConocoPhillips from $114.00 to $115.00 and gave the stock an "overweight" rating in a research report on Thursday, October 9th. Finally, Melius started coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price for the company. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $115.63.

ConocoPhillips Trading Down 2.3%

Shares of ConocoPhillips stock opened at $88.01 on Friday. The company's fifty day simple moving average is $93.32 and its 200-day simple moving average is $91.98. The stock has a market capitalization of $109.92 billion, a PE ratio of 11.81, a P/E/G ratio of 2.35 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.

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

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. 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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