Sageworth Trust Co of South Dakota Lowers Holdings in ConocoPhillips $COP

Sageworth Trust Co of South Dakota lessened its stake in shares of ConocoPhillips (NYSE:COP) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,763 shares of the energy producer’s stock after selling 329 shares during the period. ConocoPhillips accounts for approximately 0.9% of Sageworth Trust Co of South Dakota’s investment portfolio, making the stock its 26th biggest position. Sageworth Trust Co of South Dakota’s holdings in ConocoPhillips were worth $786,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC raised its holdings in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips in the 1st quarter valued at about $31,000. Garde Capital Inc. acquired a new stake in ConocoPhillips in the 1st quarter valued at about $35,000. IMA Advisory Services Inc. acquired a new stake in ConocoPhillips in the 1st quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in ConocoPhillips by 418.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after acquiring an additional 293 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Scotiabank increased their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Piper Sandler increased 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. Melius assumed coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. Susquehanna dropped their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Finally, Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.14.

ConocoPhillips Stock Performance

Shares of COP stock opened at $95.39 on Thursday. 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 52 week low of $79.88 and a 52 week high of $116.08. The stock has a market capitalization of $119.13 billion, a PE ratio of 12.80, a P/E/G ratio of 2.49 and a beta of 0.62. The firm has a 50 day moving average of $94.98 and a two-hundred day moving average of $93.00.

ConocoPhillips (NYSE:COP) last issued 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. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter last year, the company posted $1.98 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

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.