Berry Wealth Group LP Lowers Stock Position in ConocoPhillips (NYSE:COP)

Berry Wealth Group LP trimmed its position in shares of ConocoPhillips (NYSE:COP) by 7.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,143 shares of the energy producer’s stock after selling 179 shares during the period. Berry Wealth Group LP’s holdings in ConocoPhillips were worth $226,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in COP. Richardson Capital Management LLC acquired a new stake in ConocoPhillips during the first quarter worth about $31,000. Ruedi Wealth Management Inc. increased its position in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Stephens Consulting LLC raised its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the period. Valued Wealth Advisors LLC lifted its position in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in ConocoPhillips during the second quarter worth approximately $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

COP has been the topic of several recent research reports. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a report on Friday. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Wolfe Research initiated coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Truist Financial reduced their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Mizuho lowered their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $136.94.

ConocoPhillips Stock Down 0.2 %

Shares of COP stock traded down $0.20 during trading hours on Monday, hitting $105.47. 1,615,546 shares of the company were exchanged, compared to its average volume of 5,906,983. The stock has a market capitalization of $122.48 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 0.87 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The business’s 50-day simple moving average is $109.01 and its two-hundred day simple moving average is $114.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter last year, the business posted $1.84 EPS. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts predict that ConocoPhillips will post 7.99 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.20%. ConocoPhillips’s payout ratio is 25.86%.

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.