Clarity Financial LLC Sells 275 Shares of ConocoPhillips (NYSE:COP)

Clarity Financial LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,336 shares of the energy producer’s stock after selling 275 shares during the period. Clarity Financial LLC’s holdings in ConocoPhillips were worth $297,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Orion Capital Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth about $27,000. West Branch Capital LLC boosted its holdings in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Sachetta LLC acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Finally, Cape Investment Advisory Inc. grew its position in ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP stock opened at $113.98 on Thursday. The stock has a 50-day moving average price of $119.17 and a two-hundred day moving average price of $117.57. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The stock has a market cap of $133.30 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.22. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Equities analysts forecast that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on COP shares. Truist Financial lifted their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Piper Sandler raised their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Morgan Stanley increased their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, Wells Fargo & Company raised their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

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.