Stack Financial Management Inc Sells 1,032 Shares of ConocoPhillips $COP

Stack Financial Management Inc lessened its position in shares of ConocoPhillips (NYSE:COP) by 0.6% in the second quarter, HoldingsChannel.com reports. The fund owned 184,761 shares of the energy producer’s stock after selling 1,032 shares during the period. ConocoPhillips comprises approximately 1.5% of Stack Financial Management Inc’s portfolio, making the stock its 29th biggest holding. Stack Financial Management Inc’s holdings in ConocoPhillips were worth $16,580,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tritonpoint Wealth LLC boosted its position in shares of ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after purchasing an additional 110 shares in the last quarter. Iowa State Bank raised its stake in ConocoPhillips by 0.5% during the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after buying an additional 110 shares during the period. First National Bank Sioux Falls boosted its holdings in ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after acquiring an additional 113 shares in the last quarter. KLCM Advisors Inc. grew its stake in ConocoPhillips by 2.6% in the first 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 during the period. Finally, Fairvoy Private Wealth LLC grew its stake in ConocoPhillips by 3.5% in the second 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 during the period. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler upped their target price on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Wells Fargo & Company restated an “overweight” rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Evercore ISI dropped their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday, October 6th. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Sixteen research 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $117.52.

ConocoPhillips Price Performance

COP opened at $87.83 on Monday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. 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 market capitalization of $109.70 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.33 and a beta of 0.62. The firm’s fifty day moving average price is $94.60 and its two-hundred day moving average price is $92.44.

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

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

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.