WCG Wealth Advisors LLC Trims Stock Holdings in ConocoPhillips (NYSE:COP)

WCG Wealth Advisors LLC decreased its stake in ConocoPhillips (NYSE:COP) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,892 shares of the energy producer’s stock after selling 409 shares during the quarter. WCG Wealth Advisors LLC’s holdings in ConocoPhillips were worth $2,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cooksen Wealth LLC purchased a new stake in ConocoPhillips in the fourth quarter worth about $27,000. Sachetta LLC purchased a new stake in ConocoPhillips in the fourth quarter worth about $27,000. Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth about $31,000. Cape Investment Advisory Inc. grew 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 worth $29,000 after purchasing an additional 121 shares in the last quarter. Finally, Ruedi Wealth Management Inc. grew its position in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

NYSE:COP opened at $110.51 on Friday. The firm has a market capitalization of $129.25 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.22. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The business has a 50 day simple moving average of $109.82 and a 200-day simple moving average of $116.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the company earned $1.84 EPS. Equities analysts forecast that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COP. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Susquehanna cut their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wolfe Research began coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. Finally, Wells Fargo & Company cut their target price on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.29.

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.