Quotient Wealth Partners LLC Cuts Stake in ConocoPhillips (NYSE:COP)

Quotient Wealth Partners LLC lowered its stake in ConocoPhillips (NYSE:COP) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,578 shares of the energy producer’s stock after selling 628 shares during the period. Quotient Wealth Partners LLC’s holdings in ConocoPhillips were worth $4,377,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Valued Wealth Advisors LLC boosted 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 purchasing an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its holdings in shares of ConocoPhillips by 4.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after acquiring an additional 85 shares in the last quarter. Manchester Capital Management LLC increased its position in ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after purchasing an additional 86 shares during the last quarter. Adirondack Trust Co. lifted its stake in ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after acquiring an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC raised its holdings in ConocoPhillips by 3.5% during the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after buying an additional 90 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group lowered their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Bank of America reissued a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Sanford C. Bernstein cut their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Wolfe Research assumed coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Finally, StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five 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 stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $138.29.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s 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 completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by company insiders.

ConocoPhillips Stock Up 1.3 %

COP stock traded up $1.45 during trading hours on Thursday, reaching $112.42. 1,336,811 shares of the stock were exchanged, compared to its average volume of 5,930,577. The firm’s 50-day moving average is $108.89 and its 200-day moving average is $115.76. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a market cap of $131.48 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 0.87 and a beta of 1.21. 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 issued its earnings results 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. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same period last year, the business posted $1.84 EPS. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts expect that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 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.