OneAscent Wealth Management LLC Trims Stock Holdings in ConocoPhillips (NYSE:COP)

OneAscent Wealth Management LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 22.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,857 shares of the energy producer’s stock after selling 837 shares during the quarter. OneAscent Wealth Management LLC’s holdings in ConocoPhillips were worth $283,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Loomis Sayles & Co. L P boosted its stake in shares of ConocoPhillips by 6.6% during the third quarter. Loomis Sayles & Co. L P now owns 1,953 shares of the energy producer’s stock valued at $206,000 after purchasing an additional 121 shares during the period. Freedom Investment Management Inc. boosted its position in ConocoPhillips by 18.8% in the 3rd quarter. Freedom Investment Management Inc. now owns 9,418 shares of the energy producer’s stock valued at $992,000 after buying an additional 1,492 shares during the period. Bridgewater Associates LP grew its stake in ConocoPhillips by 58.9% in the 3rd quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock worth $324,000 after acquiring an additional 1,141 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of ConocoPhillips by 20.6% during the third quarter. CreativeOne Wealth LLC now owns 9,906 shares of the energy producer’s stock worth $1,043,000 after acquiring an additional 1,690 shares during the period. Finally, Icon Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 1.5% during the third quarter. Icon Wealth Advisors LLC now owns 11,998 shares of the energy producer’s stock valued at $1,263,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on COP. Barclays reduced their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Piper Sandler dropped their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $102.37 on Friday. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The company has a market cap of $130.26 billion, a PE ratio of 13.14, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The business has a 50-day simple moving average of $98.95 and a two-hundred day simple moving average of $103.28.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.