Wedgewood Investors Inc. PA Sells 200 Shares of ConocoPhillips (NYSE:COP)


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Wedgewood Investors Inc. PA lowered its position in ConocoPhillips (NYSE:COP) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,165 shares of the energy producer’s stock after selling 200 shares during the quarter. Wedgewood Investors Inc. PA owned 0.51% of ConocoPhillips worth $380,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Carnegie Capital Asset Management LLC increased its holdings in ConocoPhillips by 4.0% in the 1st quarter. Carnegie Capital Asset Management LLC now owns 5,301 shares of the energy producer’s stock valued at $281,000 after buying an additional 206 shares during the period. Cannell Peter B & Co. Inc. boosted its stake in shares of ConocoPhillips by 1.8% in the 4th quarter. Cannell Peter B & Co. Inc. now owns 11,926 shares of the energy producer’s stock valued at $477,000 after purchasing an additional 213 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of ConocoPhillips by 1.3% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 16,827 shares of the energy producer’s stock worth $891,000 after purchasing an additional 213 shares in the last quarter. Redpoint Investment Management Pty Ltd boosted its position in ConocoPhillips by 1.0% in the fourth quarter. Redpoint Investment Management Pty Ltd now owns 22,590 shares of the energy producer’s stock valued at $903,000 after buying an additional 218 shares in the last quarter. Finally, Bedel Financial Consulting Inc. increased its holdings in shares of ConocoPhillips by 5.6% during the first quarter. Bedel Financial Consulting Inc. now owns 4,113 shares of the energy producer’s stock worth $218,000 after buying an additional 218 shares in the last quarter. 72.87% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on COP shares. Piper Sandler lifted their price objective on ConocoPhillips from $50.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, April 1st. Morgan Stanley raised their price target on shares of ConocoPhillips from $58.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, March 17th. Mizuho upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $56.00 in a research report on Tuesday, January 12th. BMO Capital Markets upgraded ConocoPhillips to a “buy” rating and set a $56.00 price target on the stock in a report on Monday, January 11th. Finally, JPMorgan Chase & Co. started coverage on ConocoPhillips in a report on Tuesday, January 19th. They set a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $55.57.

Shares of NYSE:COP traded down $0.46 during midday trading on Tuesday, reaching $52.28. The company’s stock had a trading volume of 132,668 shares, compared to its average volume of 10,533,033. The firm has a 50 day moving average price of $52.50 and a two-hundred day moving average price of $44.87. ConocoPhillips has a fifty-two week low of $27.53 and a fifty-two week high of $61.14. The firm has a market capitalization of $70.69 billion, a price-to-earnings ratio of -46.07, a PEG ratio of 10.03 and a beta of 1.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.16 and a current ratio of 2.38.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, May 4th. The energy producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.11. ConocoPhillips had a negative return on equity of 0.02% and a negative net margin of 5.66%. During the same quarter in the previous year, the business posted $0.45 EPS. As a group, research analysts anticipate that ConocoPhillips will post -0.9 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.29%. ConocoPhillips’s dividend payout ratio is presently 47.91%.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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