Accretive Wealth Partners LLC Sells 119 Shares of ConocoPhillips (NYSE:COP)

Accretive Wealth Partners LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 0.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,257 shares of the energy producer’s stock after selling 119 shares during the period. Accretive Wealth Partners LLC’s holdings in ConocoPhillips were worth $1,501,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the 3rd quarter valued at $26,000. Stephens Consulting LLC boosted its position in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the last quarter. Reston Wealth Management LLC bought a new stake in ConocoPhillips in the 3rd quarter worth about $31,000. Y.D. More Investments Ltd bought a new position in ConocoPhillips during the 2nd quarter valued at about $35,000. Finally, Fairway Wealth LLC boosted its holdings in shares of ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. BMO Capital Markets raised their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Truist Financial lowered their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. UBS Group cut their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Scotiabank lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Susquehanna raised their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $111.71 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm has a market cap of $128.57 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 0.92 and a beta of 1.21. The firm has a fifty day moving average price of $108.74 and a 200 day moving average price of $111.48. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter last year, the business posted $2.16 earnings per share. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a $0.78 dividend. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.79%. ConocoPhillips’s payout ratio is 37.10%.

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.