Checchi Capital Advisers LLC Sells 770 Shares of ConocoPhillips $COP

Checchi Capital Advisers LLC lowered its position in ConocoPhillips (NYSE:COP) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 14,445 shares of the energy producer’s stock after selling 770 shares during the period. Checchi Capital Advisers LLC’s holdings in ConocoPhillips were worth $1,296,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Signature Wealth Management Partners LLC bought a new stake in ConocoPhillips during the second quarter valued at $310,000. AMF Tjanstepension AB raised its position in shares of ConocoPhillips by 45.5% in the 2nd quarter. AMF Tjanstepension AB now owns 1,311,982 shares of the energy producer’s stock worth $117,818,000 after acquiring an additional 410,299 shares in the last quarter. Sava Infond d.o.o. lifted its stake in shares of ConocoPhillips by 49.4% in the 2nd quarter. Sava Infond d.o.o. now owns 9,945 shares of the energy producer’s stock valued at $892,000 after purchasing an additional 3,290 shares during the period. 111 Capital bought a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $2,004,000. Finally, QRG Capital Management Inc. grew its stake in ConocoPhillips by 6.0% during the second quarter. QRG Capital Management Inc. now owns 222,586 shares of the energy producer’s stock worth $19,975,000 after purchasing an additional 12,609 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

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 PEG ratio of 2.49 and a beta of 0.62. The company has a fifty day simple moving average of $94.92 and a 200 day simple moving average of $92.79. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.98 earnings per share. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is currently 41.88%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, June 11th. Royal Bank Of Canada cut their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Melius assumed coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Finally, Piper Sandler upped their price objective on shares of ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.77.

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.