Cyndeo Wealth Partners LLC Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Cyndeo Wealth Partners LLC grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 1,178.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,514 shares of the energy producer's stock after purchasing an additional 56,704 shares during the period. Cyndeo Wealth Partners LLC's holdings in ConocoPhillips were worth $6,476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Werba Rubin Papier Wealth Management boosted its holdings in ConocoPhillips by 3.1% during the third quarter. Werba Rubin Papier Wealth Management now owns 3,785 shares of the energy producer's stock worth $398,000 after buying an additional 113 shares in the last quarter. CNB Bank increased its holdings in ConocoPhillips by 10.2% in the third quarter. CNB Bank now owns 7,650 shares of the energy producer's stock valued at $805,000 after buying an additional 711 shares in the last quarter. Cedrus LLC acquired a new position in shares of ConocoPhillips in the third quarter worth about $208,000. Means Investment CO. Inc. boosted its stake in shares of ConocoPhillips by 2.4% during the 3rd quarter. Means Investment CO. Inc. now owns 7,554 shares of the energy producer's stock worth $795,000 after acquiring an additional 180 shares in the last quarter. Finally, Wealth Alliance Advisory Group LLC boosted its stake in shares of ConocoPhillips by 6.0% during the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 19,490 shares of the energy producer's stock worth $2,052,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Buying and Selling

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company's stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

COP has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Susquehanna decreased their target price on ConocoPhillips from $147.00 to $144.00 and set a "positive" rating on the stock in a research report on Friday. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein reduced their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an "outperform" rating for the company in a research report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.94.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded down $0.48 on Friday, hitting $105.67. 4,326,673 shares of the company were exchanged, compared to its average volume of 8,149,196. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $109.01 and a 200 day moving average price of $114.67. The stock has a market capitalization of $122.71 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 7.99 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Monday, August 12th. ConocoPhillips's dividend payout ratio is currently 25.86%.

ConocoPhillips Company 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.