Foster & Motley Inc. Sells 4,439 Shares of ConocoPhillips $COP

Key Points

• Foster & Motley Inc. sold 4,439 shares of ConocoPhillips, reducing its holdings by 34.1%, and now owns 8,574 shares worth $769,000.
• ConocoPhillips reported $1.42 earnings per share for the last quarter, exceeding expectations, with a revenue of $14.94 billion.
• The company recently announced a quarterly dividend of $0.78 per share, reflecting an annualized yield of 3.6% and a payout ratio of 41.88%.

Foster & Motley Inc. lessened its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 34.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,574 shares of the energy producer's stock after selling 4,439 shares during the period. Foster & Motley Inc.'s holdings in ConocoPhillips were worth $769,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Tritonpoint Wealth LLC lifted its holdings in shares of ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer's stock valued at $747,000 after purchasing an additional 110 shares in the last quarter. Iowa State Bank lifted its stake in ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer's stock valued at $1,992,000 after acquiring an additional 110 shares in the last quarter. First National Bank Sioux Falls lifted its stake in ConocoPhillips by 4.6% in the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer's stock valued at $231,000 after acquiring an additional 113 shares in the last quarter. KLCM Advisors Inc. lifted its stake in ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock valued at $473,000 after acquiring an additional 115 shares in the last quarter. Finally, Fairvoy Private Wealth LLC lifted its stake in ConocoPhillips by 3.5% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer's stock valued at $314,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

NYSE:COP opened at $86.53 on Monday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $94.04 and a 200 day simple moving average of $91.91. The stock has a market capitalization of $108.07 billion, a PE ratio of 11.61, a P/E/G ratio of 2.29 and a beta of 0.62.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $14.39 billion. During the same period last year, the business earned $1.98 earnings per share. The firm's revenue was up 4.3% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued 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 dividend yield of 3.6%. ConocoPhillips's payout ratio is presently 41.88%.

Analyst Upgrades and Downgrades

COP has been the topic of several research reports. Wells Fargo & Company initiated coverage on ConocoPhillips in a research note on Friday. They issued an "equal weight" rating and a $100.00 target price on the stock. Piper Sandler cut their target price on ConocoPhillips from $124.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, October 13th. JPMorgan Chase & Co. boosted their target price on ConocoPhillips from $114.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, October 9th. Melius Research initiated coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price on the stock. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of ConocoPhillips in a research note on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.00.

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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