Cassady Schiller Wealth Management LLC Sells 500 Shares of ConocoPhillips (NYSE:COP)

Cassady Schiller Wealth Management LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 53.3% in the third quarter, HoldingsChannel reports. The firm owned 438 shares of the energy producer’s stock after selling 500 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in ConocoPhillips were worth $46,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. EP Wealth Advisors LLC increased its holdings in ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after buying an additional 4,578 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of ConocoPhillips in the 2nd quarter worth $30,021,000. Alpha DNA Investment Management LLC raised its position in shares of ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after acquiring an additional 7,490 shares in the last quarter. TCW Group Inc. lifted its stake in shares of ConocoPhillips by 37.8% during the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after purchasing an additional 8,231 shares during the last quarter. Finally, Doheny Asset Management CA bought a new stake in ConocoPhillips during the second quarter valued at about $815,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays increased their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. UBS Group decreased their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Mizuho boosted their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Stock Down 0.5 %

NYSE:COP opened at $112.32 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company’s fifty day moving average price is $108.01 and its 200-day moving average price is $111.68. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The firm has a market capitalization of $129.27 billion, a P/E ratio of 13.36, a PEG ratio of 0.92 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the firm earned $2.16 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a $0.78 dividend. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.78%. ConocoPhillips’s payout ratio is presently 37.10%.

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.