Kingswood Wealth Advisors LLC Lowers Stock Holdings in ConocoPhillips (NYSE:COP)

Kingswood Wealth Advisors LLC decreased its position in ConocoPhillips (NYSE:COP) by 60.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,960 shares of the energy producer’s stock after selling 10,824 shares during the period. Kingswood Wealth Advisors LLC’s holdings in ConocoPhillips were worth $690,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. PFG Investments LLC increased its position in shares of ConocoPhillips by 46.2% during the 4th quarter. PFG Investments LLC now owns 15,804 shares of the energy producer’s stock valued at $1,567,000 after purchasing an additional 4,997 shares during the last quarter. Strategic Investment Advisors MI purchased a new position in shares of ConocoPhillips in the fourth quarter valued at about $250,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in ConocoPhillips by 27.2% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,967 shares of the energy producer’s stock worth $1,286,000 after purchasing an additional 2,770 shares during the period. Requisite Capital Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter worth $865,000. Finally, Regatta Capital Group LLC grew its position in shares of ConocoPhillips by 28.5% during the fourth quarter. Regatta Capital Group LLC now owns 3,547 shares of the energy producer’s stock valued at $352,000 after purchasing an additional 787 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $101.49 on Thursday. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The firm has a market capitalization of $116.81 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company’s fifty day moving average price is $102.53 and its 200 day moving average price is $106.90.

ConocoPhillips (NYSE:COP) last posted its 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. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Truist Financial raised their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, Evercore ISI reissued an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Two investment 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $135.89.

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.