Cyndeo Wealth Partners LLC Buys 56,704 Shares of ConocoPhillips (NYSE:COP)

Cyndeo Wealth Partners LLC boosted its stake in ConocoPhillips (NYSE:COP) by 1,178.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,514 shares of the energy producer’s stock after acquiring 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 reporting period.

Several other large investors have also added to or reduced their stakes in COP. Stephens Consulting LLC boosted its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Richardson Capital Management LLC purchased a new position in ConocoPhillips during the first quarter valued at $31,000. Ruedi Wealth Management Inc. lifted its position in ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares during the period. Valued Wealth Advisors LLC lifted its position in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares during the period. Finally, Y.D. More Investments Ltd purchased a new position in ConocoPhillips during the second quarter valued at $35,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Truist Financial lowered their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Sanford C. Bernstein lowered their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Wolfe Research assumed coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $136.94.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $105.67 on Friday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The stock has a 50-day moving average of $109.01 and a 200 day moving average of $114.78. The company has a market capitalization of $122.71 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.87 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the company earned $1.84 EPS. On average, sell-side analysts forecast that ConocoPhillips will post 7.99 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. 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.