Curated Wealth Partners LLC decreased its position in ConocoPhillips (NYSE:COP – Free Report) by 16.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,528 shares of the energy producer’s stock after selling 2,198 shares during the period. ConocoPhillips comprises approximately 0.2% of Curated Wealth Partners LLC’s portfolio, making the stock its 28th biggest holding. Curated Wealth Partners LLC’s holdings in ConocoPhillips were worth $1,194,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Arosa Capital Management LP grew its holdings in shares of ConocoPhillips by 3.4% in the fourth quarter. Arosa Capital Management LP now owns 124,050 shares of the energy producer’s stock worth $14,638,000 after purchasing an additional 4,050 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of ConocoPhillips by 168.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 16,613 shares of the energy producer’s stock worth $1,961,000 after purchasing an additional 10,429 shares during the last quarter. Royal Fund Management LLC boosted its holdings in ConocoPhillips by 24.8% in the first quarter. Royal Fund Management LLC now owns 9,272 shares of the energy producer’s stock valued at $920,000 after acquiring an additional 1,843 shares in the last quarter. One Capital Management LLC bought a new stake in ConocoPhillips in the first quarter valued at $270,000. Finally, Herold Advisors Inc. bought a new stake in ConocoPhillips in the first quarter valued at $213,000. Institutional investors own 80.36% of the company’s stock.
Insider Buying and Selling at ConocoPhillips
In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 18,187 shares in the company, valued at approximately $2,221,360.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.
ConocoPhillips Price Performance
ConocoPhillips (NYSE:COP – Get Free Report) last issued its earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). The business had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $14.64 billion. ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. During the same period last year, the firm posted $3.91 EPS. On average, analysts expect that ConocoPhillips will post 8.74 earnings per share for the current year.
ConocoPhillips Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, September 28th will be paid a dividend of $0.51 per share. The ex-dividend date is Wednesday, September 27th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.65%. ConocoPhillips’s dividend payout ratio is currently 19.65%.
Wall Street Analysts Forecast Growth
COP has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of ConocoPhillips in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Mizuho raised their price objective on ConocoPhillips from $127.00 to $135.00 and gave the company a “neutral” rating in a research report on Wednesday, August 16th. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of ConocoPhillips in a research report on Monday, August 14th. Citigroup lowered their price objective on ConocoPhillips from $145.00 to $140.00 in a research report on Wednesday, July 12th. Finally, Raymond James lowered their price objective on ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating for the company in a research report on Monday, July 24th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.42.
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.
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