Iams Wealth Management LLC Has $1.60 Million Stock Position in ConocoPhillips $COP

Key Points

• Iams Wealth Management LLC reduced its stake in ConocoPhillips by 15.4% to a total of 17,791 shares, valued at approximately $1.60 million.
• Brokerage firms have increased their price targets for ConocoPhillips, with Scotiabank setting it at $100 and Piper Sandler at $124, while the consensus rating is a "Moderate Buy" with a price target of $120.62.
• ConocoPhillips recently reported earnings of $1.42 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.78 with a yield of 3.4%.

Iams Wealth Management LLC decreased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 15.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,791 shares of the energy producer's stock after selling 3,232 shares during the period. Iams Wealth Management LLC's holdings in ConocoPhillips were worth $1,597,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. First National Bank Sioux Falls lifted its position in shares of ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer's stock worth $231,000 after buying an additional 113 shares during the last quarter. KLCM Advisors Inc. lifted its position in shares of ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock worth $473,000 after buying an additional 115 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in shares of ConocoPhillips by 3.9% in the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock worth $334,000 after buying an additional 118 shares during the last quarter. Piscataqua Savings Bank lifted its position in shares of ConocoPhillips by 3.5% in the first quarter. Piscataqua Savings Bank now owns 3,705 shares of the energy producer's stock worth $389,000 after buying an additional 125 shares during the last quarter. Finally, Citizens National Bank Trust Department lifted its position in shares of ConocoPhillips by 6.1% in the first quarter. Citizens National Bank Trust Department now owns 2,176 shares of the energy producer's stock worth $229,000 after buying an additional 126 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COP. Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Piper Sandler boosted their price target on ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Morgan Stanley reiterated an "overweight" rating and issued a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Roth Capital reiterated a "buy" rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Finally, Melius Research began coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price objective on the stock. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.62.

ConocoPhillips Stock Down 1.7%

Shares of NYSE COP opened at $91.89 on Monday. The stock has a market cap of $114.77 billion, a PE ratio of 12.33, a PEG ratio of 2.42 and a beta of 0.69. The business has a fifty day moving average of $94.59 and a two-hundred day moving average of $92.97. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

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

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's payout ratio is presently 41.88%.

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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