Prospera Financial Services Inc Sells 2,895 Shares of ConocoPhillips $COP

Prospera Financial Services Inc reduced its stake in ConocoPhillips (NYSE:COP) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,142 shares of the energy producer’s stock after selling 2,895 shares during the period. Prospera Financial Services Inc’s holdings in ConocoPhillips were worth $8,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. RWA Wealth Partners LLC boosted its position in ConocoPhillips by 60.4% in the second quarter. RWA Wealth Partners LLC now owns 10,292 shares of the energy producer’s stock valued at $924,000 after buying an additional 3,877 shares in the last quarter. AGF Management Ltd. bought a new position in shares of ConocoPhillips in the 2nd quarter valued at $3,274,000. AE Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 164.5% during the 2nd quarter. AE Wealth Management LLC now owns 49,843 shares of the energy producer’s stock valued at $4,473,000 after acquiring an additional 31,000 shares in the last quarter. Paradigm Asset Management Co. LLC grew its position in ConocoPhillips by 2.5% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 12,200 shares of the energy producer’s stock worth $1,095,000 after acquiring an additional 300 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in ConocoPhillips in the 2nd quarter worth about $340,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COP has been the topic of a number of recent research reports. Roth Capital cut their price target on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Piper Sandler lowered their price target on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Susquehanna dropped their price objective on ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. Melius Research started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Finally, BMO Capital Markets raised their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $114.54.

ConocoPhillips Stock Up 1.3%

COP stock opened at $86.82 on Friday. The stock’s 50 day simple moving average is $91.58 and its 200 day simple moving average is $92.00. The company has a market cap of $108.43 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.9%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

ConocoPhillips Company 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, 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.