SYSTM Wealth Solutions LLC Trims Holdings in ConocoPhillips (NYSE:COP)

SYSTM Wealth Solutions LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 21.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,681 shares of the energy producer’s stock after selling 7,386 shares during the period. SYSTM Wealth Solutions LLC’s holdings in ConocoPhillips were worth $3,052,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Sachetta LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Cooksen Wealth LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. grew its holdings in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the period. Stephens Consulting LLC grew its holdings in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the period. Finally, Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $108.30 on Wednesday. The business’s fifty day moving average price is $109.97 and its 200-day moving average price is $116.64. The stock has a market capitalization of $125.76 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.78 and a beta of 1.22. 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 $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly 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. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 EPS. On average, equities analysts predict that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on COP. Bank of America reiterated a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Wells Fargo & Company dropped their price target on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Truist Financial dropped their price target on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Raymond James reissued a “strong-buy” rating and issued a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.06.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

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.