C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Sells 1,648 Shares of ConocoPhillips $COP

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 25.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,949 shares of the energy producer’s stock after selling 1,648 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in ConocoPhillips were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of COP. Bogart Wealth LLC grew its position in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management grew its position in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC grew its position in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $31,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $37,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 1.0%

NYSE COP opened at $88.99 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The firm has a market capitalization of $111.14 billion, a PE ratio of 11.94, a P/E/G ratio of 2.36 and a beta of 0.62. The stock’s 50 day moving average is $92.66 and its 200 day moving average is $92.07.

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 the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the company posted $1.98 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on COP. Wolfe Research cut their price objective on ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Melius Research began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Raymond James Financial cut their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Susquehanna cut their price objective on ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Finally, Piper Sandler cut their price objective on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.63.

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.