Dynasty Wealth Management LLC Reduces Stake in ConocoPhillips $COP

Dynasty Wealth Management LLC reduced its stake in ConocoPhillips (NYSE:COP) by 21.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,566 shares of the energy producer’s stock after selling 4,606 shares during the quarter. Dynasty Wealth Management LLC’s holdings in ConocoPhillips were worth $1,551,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in COP. KERR FINANCIAL PLANNING Corp purchased a new stake in ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund purchased a new stake in ConocoPhillips in the 4th quarter valued at $28,000. Strive Asset Management LLC purchased a new stake in ConocoPhillips in the 3rd quarter valued at $28,000. BNP Paribas purchased a new stake in ConocoPhillips in the 2nd quarter valued at $33,000. Finally, Optima Capital LLC purchased a new stake in ConocoPhillips in the 4th quarter valued at $34,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $119.24 on Thursday. The business has a 50-day moving average of $122.52 and a 200 day moving average of $109.19. ConocoPhillips has a 12 month low of $85.23 and a 12 month high of $135.87. The stock has a market capitalization of $145.27 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Analyst Ratings Changes

Several analysts have issued reports on COP shares. Susquehanna upped their target price on ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Roth Mkm cut ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price for the company. in a report on Tuesday, February 17th. Wolfe Research increased their price target on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Finally, The Goldman Sachs Group increased their price target on ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $134.48.

Insiders Place Their Bets

In other news, SVP Kelly Brunetti Rose sold 8,500 shares of ConocoPhillips stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $118.04, for a total value of $1,003,340.00. Following the completion of the transaction, the senior vice president owned 32,984 shares in the company, valued at approximately $3,893,431.36. This trade represents a 20.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas G. Olds sold 14,522 shares of ConocoPhillips stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $119.36, for a total value of $1,733,345.92. Following the completion of the transaction, the executive vice president owned 12,389 shares of the company’s stock, valued at $1,478,751.04. The trade was a 53.96% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 734,891 shares of company stock worth $93,345,692. Corporate insiders own 0.09% of the company’s stock.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.