Gleason Group Inc. Has $98,000 Position in ConocoPhillips (NYSE:COP)

Gleason Group Inc. trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 12.3% in the third quarter, Holdings Channel.com reports. The firm owned 931 shares of the energy producer’s stock after selling 130 shares during the quarter. Gleason Group Inc.’s holdings in ConocoPhillips were worth $98,000 at the end of the most recent reporting period.

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

ConocoPhillips Stock Performance

Shares of COP stock opened at $105.54 on Wednesday. The firm has a 50 day moving average of $109.14 and a 200-day moving average of $115.19. The company has a market cap of $123.43 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the company posted $1.84 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts forecast that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Analyst Ratings Changes

COP has been the subject of a number of research reports. UBS Group dropped their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Barclays dropped their price target on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Truist Financial decreased their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Susquehanna cut their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $137.12.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on 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 owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips 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.