Cyndeo Wealth Partners LLC Reduces Stock Position in ConocoPhillips $COP

Cyndeo Wealth Partners LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,514 shares of the energy producer’s stock after selling 302 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in ConocoPhillips were worth $585,000 as of its most recent SEC filing.

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

ConocoPhillips Trading Down 4.5%

Shares of NYSE:COP opened at $87.83 on Friday. The business’s 50-day moving average is $94.60 and its 200 day moving average is $92.59. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm has a market capitalization of $109.70 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.44 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

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

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

Analyst Ratings Changes

Several research analysts have recently commented on COP shares. Wells Fargo & Company reissued an “overweight” rating and issued a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Piper Sandler boosted their price target on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Melius Research started coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Melius started coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $117.23.

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.