OneAscent Wealth Management LLC Sells 1,141 Shares of ConocoPhillips (NYSE:COP)

OneAscent Wealth Management LLC lowered its stake in ConocoPhillips (NYSE:COP) by 17.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,416 shares of the energy producer’s stock after selling 1,141 shares during the period. OneAscent Wealth Management LLC’s holdings in ConocoPhillips were worth $561,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ten Capital Wealth Advisors LLC grew its stake in ConocoPhillips by 205.8% in the fourth quarter. Ten Capital Wealth Advisors LLC now owns 211 shares of the energy producer’s stock worth $25,000 after purchasing an additional 142 shares during the period. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of ConocoPhillips by 398.1% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock valued at $27,000 after buying an additional 215 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in shares of ConocoPhillips in the 1st quarter worth about $31,000. Financial Connections Group Inc. increased its stake in shares of ConocoPhillips by 383.3% in the 4th quarter. Financial Connections Group Inc. now owns 290 shares of the energy producer’s stock worth $34,000 after acquiring an additional 230 shares in the last quarter. Finally, NewSquare Capital LLC lifted its position in ConocoPhillips by 335.4% during the 1st quarter. NewSquare Capital LLC now owns 344 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 265 shares during the period. 80.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $0.93 during trading on Friday, hitting $123.57. The company’s stock had a trading volume of 12,440,960 shares, compared to its average volume of 3,823,348. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.28. The firm has a market cap of $147.97 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 0.78 and a beta of 1.30. The company has a 50-day moving average of $115.81 and a 200-day moving average of $107.09. ConocoPhillips has a 12 month low of $91.53 and a 12 month high of $138.49.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 3rd. The energy producer reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. The business had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $14.64 billion. During the same period in the prior year, the company posted $3.91 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 8.74 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, September 27th. ConocoPhillips’s dividend payout ratio is presently 19.65%.

Insiders Place Their Bets

In related news, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the transaction, the chief executive officer now directly owns 18,187 shares in the company, valued at approximately $2,221,360.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $124.00 target price on shares of ConocoPhillips in a research note on Wednesday, July 19th. Wolfe Research raised ConocoPhillips from a “peer perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Friday, July 7th. Erste Group Bank raised ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Truist Financial upped their price target on shares of ConocoPhillips from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Piper Sandler decreased their target price on shares of ConocoPhillips from $149.00 to $125.00 in a report on Tuesday, June 13th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.42.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.