Impact Partnership Wealth LLC Sells 6,881 Shares of ConocoPhillips (NYSE:COP)

Impact Partnership Wealth LLC cut its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 48.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,385 shares of the energy producer's stock after selling 6,881 shares during the quarter. Impact Partnership Wealth LLC's holdings in ConocoPhillips were worth $776,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in shares of ConocoPhillips by 83.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after acquiring an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its stake in ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after buying an additional 30,000 shares in the last quarter. ORG Wealth Partners LLC lifted its stake in ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after buying an additional 5,922 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in ConocoPhillips by 151.1% in the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock valued at $9,580,000 after buying an additional 54,900 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE COP traded down $1.06 during trading hours on Friday, reaching $91.75. The company's stock had a trading volume of 7,967,743 shares, compared to its average volume of 7,647,201. The business has a 50-day simple moving average of $91.03 and a 200 day simple moving average of $94.57. The stock has a market cap of $115.99 billion, a PE ratio of 11.66, a PEG ratio of 2.45 and a beta of 0.61. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08.

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 analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The company had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho cut their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Bank of America dropped their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Wells Fargo & Company reiterated an "overweight" rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Citigroup decreased their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Finally, Barclays reduced their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and an average target price of $120.94.

Insider Activity

In other news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.24% of the company's stock.

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.