Wealthfront Advisers LLC Sells 6,636 Shares of ConocoPhillips $COP

Wealthfront Advisers LLC lessened its stake in ConocoPhillips (NYSE:COP) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,602 shares of the energy producer’s stock after selling 6,636 shares during the period. Wealthfront Advisers LLC’s holdings in ConocoPhillips were worth $18,313,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Heartland Bank & Trust Co boosted its holdings in ConocoPhillips by 97.2% in the second quarter. Heartland Bank & Trust Co now owns 6,861 shares of the energy producer’s stock valued at $616,000 after acquiring an additional 3,381 shares in the last quarter. Tema Etfs LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth about $1,804,000. D.A. Davidson & CO. lifted its position in shares of ConocoPhillips by 12.1% in the 3rd quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock worth $13,321,000 after purchasing an additional 15,202 shares during the period. Chilton Capital Management LLC boosted its stake in shares of ConocoPhillips by 3.2% during the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock valued at $36,890,000 after purchasing an additional 11,958 shares in the last quarter. Finally, AE Wealth Management LLC increased its position in shares of ConocoPhillips by 107.5% during the third quarter. AE Wealth Management LLC now owns 103,430 shares of the energy producer’s stock valued at $9,783,000 after buying an additional 53,587 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the transaction, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. The trade was a 60.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on COP. JPMorgan Chase & Co. raised their price objective on shares of ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Bank of America restated an “underperform” rating and issued a $102.00 target price on shares of ConocoPhillips in a research note on Friday, January 16th. Piper Sandler lifted their price target on ConocoPhillips from $108.00 to $111.00 and gave the company an “overweight” rating in a research report on Friday. Capital One Financial increased their price objective on ConocoPhillips from $111.00 to $116.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 20th. Finally, BMO Capital Markets raised their price objective on ConocoPhillips from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $114.78.

ConocoPhillips Stock Down 1.1%

Shares of NYSE:COP opened at $107.50 on Wednesday. The stock has a fifty day simple moving average of $97.24 and a two-hundred day simple moving average of $93.89. The stock has a market capitalization of $132.84 billion, a price-to-earnings ratio of 16.96 and a beta of 0.32. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $108.89. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The company had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The company’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, February 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 53.00%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.