MOKAN Wealth Management Inc. Has $4.09 Million Holdings in ConocoPhillips $COP

Key Points

• MOKAN Wealth Management Inc. reduced its holdings in ConocoPhillips by 13.2%, owning 45,617 shares valued at approximately $4.09 million after selling 6,934 shares during the second quarter.
• Despite MOKAN's decrease, several institutional investors increased their stakes, with Allspring Global Investments growing its holdings by 14.5% to own 845,654 shares valued at about $77.79 million.
• ConocoPhillips reported earnings of $1.42 per share for the last quarter, exceeding expectations, along with a quarterly dividend of $0.78, reflecting an annualized yield of 3.6%.

MOKAN Wealth Management Inc. lessened its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 13.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,617 shares of the energy producer's stock after selling 6,934 shares during the quarter. ConocoPhillips makes up about 2.3% of MOKAN Wealth Management Inc.'s investment portfolio, making the stock its 12th largest position. MOKAN Wealth Management Inc.'s holdings in ConocoPhillips were worth $4,094,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of ConocoPhillips by 14.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 845,654 shares of the energy producer's stock worth $77,792,000 after purchasing an additional 107,114 shares in the last quarter. LRI Investments LLC grew its holdings in shares of ConocoPhillips by 15.5% during the 2nd quarter. LRI Investments LLC now owns 2,966 shares of the energy producer's stock worth $266,000 after purchasing an additional 399 shares in the last quarter. SPC Financial Inc. grew its holdings in shares of ConocoPhillips by 5.3% during the 2nd quarter. SPC Financial Inc. now owns 4,769 shares of the energy producer's stock worth $428,000 after purchasing an additional 239 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer's stock valued at $13,927,000 after buying an additional 22,827 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in ConocoPhillips by 11.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 69,265 shares of the energy producer's stock valued at $6,216,000 after buying an additional 7,163 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on COP shares. Royal Bank Of Canada decreased their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, July 11th. Roth Capital reaffirmed a "buy" rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Barclays decreased their price target on ConocoPhillips from $122.00 to $118.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 7th. Finally, UBS Group boosted their price target on ConocoPhillips from $116.00 to $124.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.52.

ConocoPhillips Trading Down 4.5%

Shares of COP opened at $87.83 on Monday. The stock has a fifty day moving average price of $94.60 and a two-hundred day moving average price of $92.44. 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 has a 52-week low of $79.88 and a 52-week high of $115.38. The company has a market cap of $109.70 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.33 and a beta of 0.62.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the company posted $1.98 EPS. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

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.

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