Cyndeo Wealth Partners LLC Lowers Holdings in ConocoPhillips $COP

Cyndeo Wealth Partners LLC decreased its stake in ConocoPhillips (NYSE:COP) by 4.4% during the second quarter, Holdings Channel reports. The institutional investor owned 6,514 shares of the energy producer’s stock after selling 302 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in ConocoPhillips were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of COP. Focus Financial Network Inc. boosted its stake in shares of ConocoPhillips by 2.9% in the first quarter. Focus Financial Network Inc. now owns 5,217 shares of the energy producer’s stock worth $548,000 after buying an additional 147 shares during the last quarter. Simon Quick Advisors LLC boosted its stake in shares of ConocoPhillips by 18.8% in the first quarter. Simon Quick Advisors LLC now owns 6,763 shares of the energy producer’s stock worth $710,000 after buying an additional 1,068 shares during the last quarter. Union Bancaire Privee UBP SA raised its holdings in ConocoPhillips by 389.9% in the 1st quarter. Union Bancaire Privee UBP SA now owns 8,417 shares of the energy producer’s stock worth $884,000 after purchasing an additional 6,699 shares during the period. Parkside Investments LLC raised its holdings in ConocoPhillips by 11.6% in the 1st quarter. Parkside Investments LLC now owns 111,653 shares of the energy producer’s stock worth $11,726,000 after purchasing an additional 11,645 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its holdings in ConocoPhillips by 3.2% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 54,051 shares of the energy producer’s stock worth $5,676,000 after purchasing an additional 1,700 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a report on Wednesday. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Wells Fargo & Company reissued an “overweight” rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. JPMorgan Chase & Co. increased their target price on ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Scotiabank increased their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.23.

ConocoPhillips Trading Down 4.5%

Shares of ConocoPhillips stock opened at $87.83 on Friday. The firm has a market capitalization of $109.70 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.44 and a beta of 0.62. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a 50 day moving average of $94.60 and a 200 day moving average of $92.59.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.98 earnings per share. As a group, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

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.