Fiduciary Alliance LLC Lowers Stake in ConocoPhillips $COP

Fiduciary Alliance LLC lessened its position in ConocoPhillips (NYSE:COP) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,337 shares of the energy producer’s stock after selling 2,362 shares during the period. ConocoPhillips comprises 1.2% of Fiduciary Alliance LLC’s portfolio, making the stock its 14th largest holding. Fiduciary Alliance LLC’s holdings in ConocoPhillips were worth $15,914,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. 10Elms LLP acquired a new position in ConocoPhillips in the 4th quarter valued at $28,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at $31,000. Garde Capital Inc. acquired a new position in ConocoPhillips in the first quarter valued at $35,000. Finally, IMA Advisory Services Inc. acquired a new position in ConocoPhillips in the first quarter valued at $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.1%

Shares of NYSE:COP opened at $92.32 on Tuesday. The firm has a fifty day moving average of $94.74 and a two-hundred day moving average of $92.88. 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 12-month low of $79.88 and a 12-month high of $116.08. The firm has a market capitalization of $115.30 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 2.43 and a beta of 0.69.

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

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.4%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on COP shares. Raymond James Financial decreased their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Mizuho dropped their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday. Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Royal Bank Of Canada cut their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, July 11th. Finally, Piper Sandler increased their target price on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.62.

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.