B. Riley Wealth Advisors Inc. Sells 1,859 Shares of ConocoPhillips (NYSE:COP)

B. Riley Wealth Advisors Inc. reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,834 shares of the energy producer’s stock after selling 1,859 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in ConocoPhillips were worth $4,442,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Cooksen Wealth LLC acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Ruedi Wealth Management Inc. increased its stake in shares of ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Stephens Consulting LLC increased its stake in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Finally, Valued Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after acquiring an additional 82 shares during the period. 82.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of several research reports. Wolfe Research started coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Bank of America reiterated a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Sanford C. Bernstein lowered their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $140.82.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $105.28 on Tuesday. The business’s 50 day simple moving average is $108.71 and its 200 day simple moving average is $116.20. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a market cap of $123.13 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.85 and a beta of 1.22. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 EPS. Sell-side analysts forecast that ConocoPhillips will post 8.14 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.20%. ConocoPhillips’s dividend payout ratio is presently 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.