Eads & Heald Wealth Management Cuts Position in ConocoPhillips $COP

Eads & Heald Wealth Management lowered its stake in shares of ConocoPhillips (NYSE:COP) by 17.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,407 shares of the energy producer’s stock after selling 910 shares during the period. Eads & Heald Wealth Management’s holdings in ConocoPhillips were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of ConocoPhillips by 1.4% in the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after buying an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after buying an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. grew its stake in ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after acquiring an additional 1,073,906 shares during the last quarter. Finally, Nuveen LLC purchased a new position in ConocoPhillips during the 1st quarter valued at about $658,981,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 0.8%

NYSE COP opened at $94.17 on Monday. The company has a market cap of $117.61 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.49 and a beta of 0.62. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The company has a 50-day moving average of $94.92 and a 200-day moving average of $92.79.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period last year, the company earned $1.98 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

Analysts Set New Price Targets

Several analysts have issued reports on COP shares. Citigroup reduced their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, June 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Piper Sandler increased their target price on ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Royal Bank Of Canada cut their price target on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, July 11th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.77.

ConocoPhillips 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.