Kolinsky Wealth Management LLC Sells 129 Shares of ConocoPhillips (NYSE:COP)

Kolinsky Wealth Management LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,520 shares of the energy producer’s stock after selling 129 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in ConocoPhillips were worth $265,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in ConocoPhillips during the second quarter worth about $30,021,000. Alpha DNA Investment Management LLC increased its position in ConocoPhillips by 83.8% during the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after acquiring an additional 7,490 shares during the period. Prospera Financial Services Inc increased its position in ConocoPhillips by 23.6% during the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after acquiring an additional 13,595 shares during the period. Pacer Advisors Inc. increased its position in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after buying an additional 46,621 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on COP shares. Mizuho increased their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Susquehanna increased their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Truist Financial reduced their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, BMO Capital Markets increased their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Stock Up 0.9 %

Shares of NYSE COP opened at $108.37 on Friday. The company has a 50 day simple moving average of $108.77 and a 200 day simple moving average of $110.86. The firm has a market cap of $124.72 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the business earned $2.16 EPS. On average, research analysts forecast that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.