First Heartland Consultants Inc. Decreases Holdings in ConocoPhillips (NYSE:COP)

First Heartland Consultants Inc. reduced its position in ConocoPhillips (NYSE:COPGet Rating) by 10.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,553 shares of the energy producer’s stock after selling 436 shares during the period. First Heartland Consultants Inc.’s holdings in ConocoPhillips were worth $319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arkadios Wealth Advisors grew its stake in ConocoPhillips by 46.5% in the 1st quarter. Arkadios Wealth Advisors now owns 5,224 shares of the energy producer’s stock valued at $522,000 after acquiring an additional 1,657 shares during the last quarter. Great Valley Advisor Group Inc. grew its holdings in ConocoPhillips by 76.7% during the 1st quarter. Great Valley Advisor Group Inc. now owns 27,710 shares of the energy producer’s stock valued at $2,328,000 after buying an additional 12,028 shares during the last quarter. Cetera Advisors LLC increased its position in ConocoPhillips by 63.9% during the first quarter. Cetera Advisors LLC now owns 42,067 shares of the energy producer’s stock worth $4,207,000 after buying an additional 16,396 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of ConocoPhillips by 9.5% in the first quarter. First Republic Investment Management Inc. now owns 697,281 shares of the energy producer’s stock worth $69,728,000 after acquiring an additional 60,715 shares during the last quarter. Finally, AE Wealth Management LLC boosted its stake in shares of ConocoPhillips by 6.8% during the first quarter. AE Wealth Management LLC now owns 60,699 shares of the energy producer’s stock valued at $6,070,000 after acquiring an additional 3,856 shares during the last quarter. 79.66% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $112.87 on Tuesday. The company has a market cap of $145.99 billion, a P/E ratio of 9.32, a PEG ratio of 0.37 and a beta of 1.31. ConocoPhillips has a one year low of $56.30 and a one year high of $124.08. The business’s 50-day simple moving average is $100.72 and its 200 day simple moving average is $101.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54.

ConocoPhillips (NYSE:COPGet Rating) last released its earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same quarter in the prior year, the company posted $1.27 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 14.68 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a None dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, September 29th. ConocoPhillips’s dividend payout ratio is currently 15.19%.

Insider Buying and Selling

In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total transaction of $1,275,894.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on COP. The Goldman Sachs Group reduced their target price on shares of ConocoPhillips from $140.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Piper Sandler raised their target price on shares of ConocoPhillips from $123.00 to $134.00 and gave the stock an “overweight” rating in a research report on Monday, September 12th. Morgan Stanley boosted their price target on ConocoPhillips from $117.00 to $118.00 and gave the company an “overweight” rating in a report on Monday, August 29th. Mizuho decreased their price objective on ConocoPhillips from $148.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, August 18th. Finally, Societe Generale upped their target price on ConocoPhillips to $127.00 in a research note on Thursday, June 9th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $121.79.

ConocoPhillips Company Profile

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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