True Wealth Design LLC Has $105,000 Position in ConocoPhillips $COP

True Wealth Design LLC cut its holdings in ConocoPhillips (NYSE:COP) by 63.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,173 shares of the energy producer’s stock after selling 2,060 shares during the quarter. True Wealth Design LLC’s holdings in ConocoPhillips were worth $105,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aberdeen Group plc grew its holdings in ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after purchasing an additional 264,726 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of ConocoPhillips by 17.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after purchasing an additional 22,827 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of ConocoPhillips by 2.4% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock valued at $304,716,000 after buying an additional 78,642 shares during the period. Commonwealth Retirement Investments LLC acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at $1,264,000. Finally, Ashton Thomas Private Wealth LLC increased its position in shares of ConocoPhillips by 17.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock valued at $3,924,000 after buying an additional 5,627 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Piper Sandler reduced their target price on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Weiss Ratings cut ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Barclays lowered their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Evercore ISI cut their price target on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday, October 6th. Finally, Scotiabank raised their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $114.67.

ConocoPhillips Trading Up 1.3%

ConocoPhillips stock opened at $86.82 on Friday. The company has a market cap of $108.43 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 2.36 and a beta of 0.58. The firm has a 50-day moving average of $91.58 and a 200-day moving average of $91.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 earnings per share. On average, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.9%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

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.