Kingswood Wealth Advisors LLC Sells 10,824 Shares of ConocoPhillips (NYSE:COP)

Kingswood Wealth Advisors LLC cut its stake in ConocoPhillips (NYSE:COP - Free Report) by 60.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,960 shares of the energy producer's stock after selling 10,824 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in ConocoPhillips were worth $690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after buying an additional 228 shares during the period. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the third quarter valued at approximately $26,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock worth $34,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Up 0.3 %

COP traded up $0.26 during trading on Thursday, hitting $101.82. 1,759,322 shares of the company's stock were exchanged, compared to its average volume of 5,555,441. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market cap of $117.19 billion, a P/E ratio of 12.10, a PEG ratio of 0.86 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business's 50 day moving average is $102.29 and its two-hundred day moving average is $106.86.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. The firm's revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities analysts expect that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

Insider Activity

In related news, Director R A. Walker purchased 10,400 shares of the firm's stock in a transaction on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company's stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the firm's stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a research note on Thursday, October 10th. Piper Sandler dropped their target price on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Mizuho upgraded ConocoPhillips from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Evercore ISI reiterated an "outperform" rating and set a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $135.89.

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.