ConocoPhillips (NYSE:COP) Shares Sold by Wealth Alliance

Wealth Alliance cut its stake in ConocoPhillips (NYSE:COP) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,721 shares of the energy producer’s stock after selling 170 shares during the period. Wealth Alliance’s holdings in ConocoPhillips were worth $769,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC increased its holdings in ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. increased its holdings in ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after buying an additional 85 shares in the last quarter. Manchester Capital Management LLC increased its holdings in ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after buying an additional 86 shares in the last quarter. Adirondack Trust Co. increased its holdings 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 buying an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC increased its holdings in ConocoPhillips by 3.5% in 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.

ConocoPhillips Stock Up 0.3 %

Shares of COP opened at $108.64 on Thursday. The firm has a market cap of $126.16 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22. The company’s fifty day moving average is $109.89 and its two-hundred day moving average is $116.59. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

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

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.14%. ConocoPhillips’s payout ratio is 26.27%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Susquehanna dropped their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Raymond James reissued a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Mizuho dropped their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday. UBS Group dropped their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.29.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction 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 transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.