SYSTM Wealth Solutions LLC Trims Stake in ConocoPhillips (NYSE:COP)

SYSTM Wealth Solutions LLC trimmed its stake in ConocoPhillips (NYSE:COP) by 21.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,681 shares of the energy producer’s stock after selling 7,386 shares during the period. SYSTM Wealth Solutions LLC’s holdings in ConocoPhillips were worth $3,052,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Sachetta LLC purchased a new stake in ConocoPhillips in the 4th quarter worth $27,000. Cooksen Wealth LLC purchased a new stake in ConocoPhillips in the 4th quarter worth $27,000. Cape Investment Advisory Inc. increased its stake in ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares in the last quarter. Stephens Consulting LLC increased its stake in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares in the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in ConocoPhillips in the 1st quarter worth $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on COP. Bank of America reiterated a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wolfe Research started coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. Susquehanna cut their price objective on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, Barclays raised their price objective on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.06.

ConocoPhillips Trading Up 2.6 %

COP opened at $108.30 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock’s 50 day moving average price is $109.97 and its 200-day moving average price is $116.64. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The stock has a market cap of $125.76 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the business earned $1.84 EPS. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.