Cornerstone Wealth Group reduces stake in ConocoPhillips, while the company reports Q3 earnings exceeding estimates.

Cornerstone Wealth Group LLC now holds a $4.67 million stake in ConocoPhillips after reducing its shares by nearly 22,000 in Q3. The company reported earnings of $1.98 per share for the quarter, exceeding estimates, with a revenue increase of 9.7% year-over-year. ConocoPhillips maintains a "Moderate Buy" rating, with a target price of $136.94. Institutional investors continue to adjust their stakes in the firm, which pays a quarterly dividend of $0.78.