Kingswood Wealth Advisors LLC Purchases 245 Shares of ConocoPhillips (NYSE:COP)

Kingswood Wealth Advisors LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,822 shares of the energy producer’s stock after acquiring an additional 245 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in ConocoPhillips were worth $1,810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sachetta LLC purchased a new position in shares of ConocoPhillips in the fourth quarter valued at $27,000. Cooksen Wealth LLC purchased a new position in ConocoPhillips during the 4th quarter valued at about $27,000. Cape Investment Advisory Inc. increased its position in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares during the period. Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter worth about $31,000. Finally, Northwest Bank & Trust Co bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $32,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wolfe Research started coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. Argus raised ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Raymond James restated a “strong-buy” rating and set a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Royal Bank of Canada raised their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Finally, Piper Sandler boosted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.53.

ConocoPhillips Trading Up 1.1 %

Shares of COP stock traded up $1.13 on Wednesday, hitting $106.93. 7,638,250 shares of the company’s stock traded hands, compared to its average volume of 5,713,554. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.21 and a current ratio of 1.33. The stock has a market capitalization of $125.06 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 2.14 and a beta of 1.24. The company’s fifty day simple moving average is $112.24 and its 200 day simple moving average is $117.13. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the firm earned $1.84 earnings per share. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts forecast that ConocoPhillips will post 8.73 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

About ConocoPhillips

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.