Nwam LLC Sells 332 Shares of ConocoPhillips (NYSE:COP)

Nwam LLC trimmed its position in shares of ConocoPhillips (NYSE:COP) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,261 shares of the energy producer’s stock after selling 332 shares during the period. Nwam LLC’s holdings in ConocoPhillips were worth $652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Forum Financial Management LP grew its stake in shares of ConocoPhillips by 12.3% in the 1st quarter. Forum Financial Management LP now owns 20,363 shares of the energy producer’s stock valued at $2,592,000 after purchasing an additional 2,225 shares during the period. Great Lakes Retirement Inc. grew its stake in shares of ConocoPhillips by 21.7% in the 1st quarter. Great Lakes Retirement Inc. now owns 18,968 shares of the energy producer’s stock valued at $2,414,000 after purchasing an additional 3,379 shares during the period. ProVise Management Group LLC grew its stake in shares of ConocoPhillips by 5.1% in the 1st quarter. ProVise Management Group LLC now owns 45,633 shares of the energy producer’s stock valued at $5,808,000 after purchasing an additional 2,221 shares during the period. Leo Wealth LLC grew its stake in shares of ConocoPhillips by 18.7% in the 1st quarter. Leo Wealth LLC now owns 6,715 shares of the energy producer’s stock valued at $859,000 after purchasing an additional 1,058 shares during the period. Finally, Wilkins Investment Counsel Inc. grew its stake in shares of ConocoPhillips by 299.7% in the 1st quarter. Wilkins Investment Counsel Inc. now owns 22,590 shares of the energy producer’s stock valued at $2,875,000 after purchasing an additional 16,938 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 1.9 %

Shares of NYSE:COP opened at $114.35 on Friday. ConocoPhillips has a 52-week low of $105.77 and a 52-week high of $135.18. The company has a market capitalization of $133.74 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 2.06 and a beta of 1.23. The company has a 50-day simple moving average of $114.73 and a 200 day simple moving average of $117.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. Sell-side analysts forecast that ConocoPhillips will post 8.81 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.73%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Morgan Stanley boosted 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. Piper Sandler boosted their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Finally, Bank of America restated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.29.

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.