Sweet Financial Partners LLC Purchases 166 Shares of ConocoPhillips (NYSE:COP)

Sweet Financial Partners LLC increased its position in ConocoPhillips (NYSE:COP) by 0.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,554 shares of the energy producer’s stock after buying an additional 166 shares during the period. Sweet Financial Partners LLC’s holdings in ConocoPhillips were worth $2,375,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares in the last quarter. Capital International Investors increased its position in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after buying an additional 1,856,085 shares during the last quarter. Legal & General Group Plc raised its holdings in ConocoPhillips by 4.6% during the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after buying an additional 438,241 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of ConocoPhillips by 2.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock worth $653,065,000 after buying an additional 109,885 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of ConocoPhillips by 10.3% during the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock worth $567,111,000 after acquiring an additional 415,878 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Barclays dropped their price target on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial decreased their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, Wells Fargo & Company cut their target price on shares of ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.12.

Insider Activity

In related 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 transaction of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 1.0 %

Shares of COP stock opened at $106.17 on Friday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The stock has a fifty day moving average price of $109.07 and a 200 day moving average price of $115.06. The stock has a market cap of $124.17 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. Analysts predict that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

About ConocoPhillips

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.