Auxano Advisors LLC Sells 928 Shares of ConocoPhillips (NYSE:COP)

Auxano Advisors LLC trimmed its stake in ConocoPhillips (NYSE:COP) by 24.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,915 shares of the energy producer’s stock after selling 928 shares during the quarter. Auxano Advisors LLC’s holdings in ConocoPhillips were worth $333,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Sachetta LLC purchased a new stake in ConocoPhillips during the 4th quarter valued at about $27,000. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. increased its position in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares in the last quarter. Stephens Consulting LLC raised its holdings 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 acquiring an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new position in ConocoPhillips in the 1st quarter valued at approximately $31,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’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 of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on COP. Wolfe Research assumed coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Mizuho dropped their price target on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Barclays boosted their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Scotiabank dropped their target price on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Truist Financial decreased their target price on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.65.

ConocoPhillips Price Performance

NYSE:COP traded down $0.58 during trading hours on Friday, reaching $113.79. 5,559,473 shares of the company were exchanged, compared to its average volume of 5,694,506. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a market cap of $133.08 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 0.85 and a beta of 1.24. ConocoPhillips has a twelve month low of $102.27 and a twelve month high of $135.18. The stock’s 50-day moving average is $111.73 and its 200-day moving average is $117.04.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that ConocoPhillips will post 8.5 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.