Parcion Private Wealth LLC Has $1.35 Million Stock Holdings in ConocoPhillips $COP

Key Points

• Parcion Private Wealth LLC reduced its stake in ConocoPhillips (COP) by 18.8%, now owning 15,042 shares valued at $1.35 million.
• Several institutional investors recently adjusted their holdings in ConocoPhillips, with a total institutional ownership of 82.36%.
• Analysts have lowered price targets for ConocoPhillips, with the consensus rating being "Moderate Buy" and an average target price of $115.63.

Parcion Private Wealth LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 18.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 15,042 shares of the energy producer's stock after selling 3,494 shares during the period. Parcion Private Wealth LLC's holdings in ConocoPhillips were worth $1,350,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC raised its holdings in ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer's stock valued at $747,000 after acquiring an additional 110 shares in the last quarter. Iowa State Bank raised its holdings 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 raised its holdings 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. raised its holdings 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 raised its holdings 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 and hedge funds own 82.36% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on COP shares. Piper Sandler cut their price target on ConocoPhillips from $124.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, October 13th. UBS Group decreased their price target on ConocoPhillips from $124.00 to $122.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. Weiss Ratings restated a "hold (c-)" rating on shares of ConocoPhillips in a research report on Wednesday, October 8th. Jefferies Financial Group decreased their price target on ConocoPhillips from $129.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. Finally, Royal Bank Of Canada increased their price objective on ConocoPhillips from $113.00 to $118.00 and gave the company an "outperform" rating in a research report on Monday, October 13th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $115.63.

ConocoPhillips Stock Performance

COP opened at $86.39 on Wednesday. The business's 50-day moving average price is $93.75 and its two-hundred day moving average price is $91.88. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The company has a market capitalization of $107.90 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 2.30 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.98 EPS. Equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips's dividend payout ratio (DPR) 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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