ConocoPhillips (NYSE:COP) Shares Sold by Mattern Wealth Management LLC

Mattern Wealth Management LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 13.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,143 shares of the energy producer’s stock after selling 1,067 shares during the period. Mattern Wealth Management LLC’s holdings in ConocoPhillips were worth $752,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Stephens Consulting LLC lifted its position in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the period. Richardson Capital Management LLC acquired a new position in ConocoPhillips in the 1st quarter valued at $31,000. Ruedi Wealth Management Inc. increased its stake in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares during the period. Valued Wealth Advisors LLC raised its holdings in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in ConocoPhillips in the second quarter valued at about $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COP. Wolfe Research started coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Mizuho cut their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Susquehanna decreased their price objective on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a report on Friday. Finally, Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Six 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.94.

ConocoPhillips Trading Up 0.3 %

NYSE:COP traded up $0.27 on Tuesday, reaching $105.26. The stock had a trading volume of 1,504,288 shares, compared to its average volume of 5,898,987. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a market cap of $123.11 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.87 and a beta of 1.21. The firm’s fifty day moving average is $108.90 and its two-hundred day moving average is $114.48. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 earnings per share. Equities analysts expect that ConocoPhillips will post 7.99 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.20%. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was 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 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 filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by company insiders.

About ConocoPhillips

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.