Jeppson Wealth Management LLC Sells 130 Shares of ConocoPhillips (NYSE:COP)

Jeppson Wealth Management LLC cut its position in ConocoPhillips (NYSE:COP) by 0.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,406 shares of the energy producer’s stock after selling 130 shares during the quarter. Jeppson Wealth Management LLC’s holdings in ConocoPhillips were worth $1,762,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of COP. Valued Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after acquiring an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. increased its position in shares of ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in shares of ConocoPhillips by 22.1% during the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares during the last quarter. Adirondack Trust Co. boosted its position in shares of ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after purchasing an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC grew its stake in ConocoPhillips by 3.5% during the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after buying an additional 90 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several recent analyst reports. Truist Financial lowered their price target on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Susquehanna decreased their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a report on Wednesday. Barclays boosted their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Stock Performance

COP stock traded up $0.81 during trading on Friday, hitting $108.26. 212,209 shares of the company traded hands, compared to its average volume of 5,631,677. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a 1 year low of $102.27 and a 1 year high of $135.18. The stock’s 50-day simple moving average is $111.37 and its 200 day simple moving average is $116.98. The company has a market cap of $126.61 billion, a PE ratio of 12.28, a P/E/G ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the firm earned $1.84 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that ConocoPhillips will post 8.5 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

ConocoPhillips 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.