Signature Estate & Investment Advisors LLC Sells 886 Shares of ConocoPhillips $COP

Signature Estate & Investment Advisors LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 20.8% during the 1st quarter, HoldingsChannel reports. The fund owned 3,366 shares of the energy producer’s stock after selling 886 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in ConocoPhillips were worth $354,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. 10Elms LLP bought a new stake in ConocoPhillips during the fourth quarter worth approximately $28,000. Financial Network Wealth Advisors LLC increased its stake in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new stake in ConocoPhillips during the first quarter worth approximately $31,000. Garde Capital Inc. bought a new stake in ConocoPhillips during the first quarter worth approximately $35,000. Finally, IMA Advisory Services Inc. bought a new stake in ConocoPhillips during the first quarter worth approximately $37,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 2.5%

Shares of NYSE:COP opened at $94.20 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $117.65 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.42 and a beta of 0.69. The business has a 50 day simple moving average of $94.78 and a two-hundred day simple moving average of $93.04. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.98 earnings per share. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on COP shares. Raymond James Financial reduced their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday. Piper Sandler boosted their price objective on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Morgan Stanley restated an “overweight” rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Citigroup dropped their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Finally, Royal Bank Of Canada dropped their target price on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, July 11th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.86.

Insider Activity

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

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.