ConocoPhillips (NYSE:COP) Stock Position Decreased by Sound View Wealth Advisors Group LLC

Key Points

• Sound View Wealth Advisors Group LLC reduced its stake in ConocoPhillips by 38.4%, selling 2,676 shares and currently holding 4,285 shares valued at approximately $450,000.
• The stock has received mixed ratings from analysts, with price targets ranging from $100 to $140 and a consensus rating of “Moderate Buy.”
• ConocoPhillips recently declared a quarterly dividend of $0.78, with an annualized dividend yield of 3.3%.

Sound View Wealth Advisors Group LLC reduced its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 38.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,285 shares of the energy producer's stock after selling 2,676 shares during the period. Sound View Wealth Advisors Group LLC's holdings in ConocoPhillips were worth $450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. 10Elms LLP acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $28,000. Garde Capital Inc. acquired a new stake in ConocoPhillips in the first quarter worth $35,000. IMA Advisory Services Inc. acquired a new stake in ConocoPhillips in the first quarter worth $37,000. Fourth Dimension Wealth LLC acquired a new stake in ConocoPhillips in the fourth quarter worth $39,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in ConocoPhillips in the first quarter worth $42,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank Of Canada dropped their target price on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Bank of America dropped their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Mizuho decreased their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $119.00 price target on shares of ConocoPhillips in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $121.33.

ConocoPhillips Trading Down 2.7%

Shares of NYSE COP traded down $2.59 during mid-day trading on Friday, hitting $92.75. 6,348,613 shares of the company traded hands, compared to its average volume of 5,417,085. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The stock has a market capitalization of $117.25 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.41 and a beta of 0.67. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $91.97 and a two-hundred day moving average of $94.07.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the prior year, the business posted $2.05 earnings per share. On average, sell-side analysts anticipate 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 was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.24% of the company's stock.

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.