Kestra Advisory Services LLC Lowers Position in ConocoPhillips $COP

Key Points

• Kestra Advisory Services LLC has reduced its stake in ConocoPhillips by 8.8%, selling 7,419 shares and now controlling a total of 77,340 shares valued at approximately $8.12 million.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, representing an annualized yield of 3.2%, with the payment date set for September 2nd.
• Analysts have mixed ratings on ConocoPhillips, with UBS raising its price target to $124 and others issuing a sell rating, resulting in a consensus rating of "Moderate Buy" with an average price target of $120.95.

Kestra Advisory Services LLC cut its stake in ConocoPhillips (NYSE:COP - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,340 shares of the energy producer's stock after selling 7,419 shares during the quarter. Kestra Advisory Services LLC's holdings in ConocoPhillips were worth $8,122,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in COP. 10Elms LLP bought a new position in ConocoPhillips in the fourth quarter worth about $28,000. Financial Network Wealth Advisors LLC grew its position in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Garde Capital Inc. purchased a new stake in ConocoPhillips during the first quarter valued at approximately $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in ConocoPhillips during the first quarter valued at approximately $37,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on COP shares. Piper Sandler upped 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. Susquehanna dropped their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Wells Fargo & Company reissued an "overweight" rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Finally, Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $120.95.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $0.46 during trading on Friday, hitting $98.91. The stock had a trading volume of 2,667,488 shares, compared to its average volume of 8,005,097. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The stock has a market capitalization of $123.53 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 2.56 and a beta of 0.67. The stock has a 50-day simple moving average of $94.07 and a two-hundred day simple moving average of $93.24.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. ConocoPhillips's revenue for the quarter was up 4.3% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.78 dividend. The ex-dividend date is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips's dividend payout ratio is presently 41.88%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were bought 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 in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is 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.