Wealth Alliance Trims Stock Position in ConocoPhillips (NYSE:COP)

Wealth Alliance cut its holdings in shares of ConocoPhillips (NYSE:COPFree Report) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,479 shares of the energy producer’s stock after selling 869 shares during the quarter. Wealth Alliance’s holdings in ConocoPhillips were worth $1,375,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Norris Perne & French LLP MI boosted its holdings in shares of ConocoPhillips by 1.9% during the third quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock valued at $523,000 after acquiring an additional 80 shares during the period. Sloy Dahl & Holst LLC boosted its holdings in shares of ConocoPhillips by 3.3% during the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after acquiring an additional 85 shares during the period. Tevis Investment Management boosted its holdings in shares of ConocoPhillips by 2.7% during the second quarter. Tevis Investment Management now owns 3,294 shares of the energy producer’s stock valued at $341,000 after acquiring an additional 87 shares during the period. Mascoma Wealth Management LLC raised its stake in shares of ConocoPhillips by 35.9% during the third quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock valued at $40,000 after purchasing an additional 88 shares in the last quarter. Finally, CRA Financial Services LLC raised its stake in shares of ConocoPhillips by 1.9% during the third quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock valued at $563,000 after purchasing an additional 89 shares in the last quarter. 80.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Susquehanna cut their price objective on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. Royal Bank of Canada lifted their price objective on shares of ConocoPhillips from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Scotiabank lifted their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Friday. Raymond James dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, UBS Group dropped their price target on shares of ConocoPhillips from $149.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.33.

Check Out Our Latest Analysis on COP

ConocoPhillips Stock Down 2.4 %

Shares of COP traded down $2.74 during trading hours on Friday, reaching $111.16. The company’s stock had a trading volume of 5,974,069 shares, compared to its average volume of 5,174,754. The firm has a market cap of $131.99 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 0.66 and a beta of 1.24. ConocoPhillips has a 1-year low of $91.53 and a 1-year high of $127.35. The company has a quick ratio of 1.53, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $113.10 and a two-hundred day moving average of $116.55.

ConocoPhillips (NYSE:COPGet Free Report) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the prior year, the company earned $2.71 EPS. As a group, research analysts predict that ConocoPhillips will post 9.45 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Monday, February 19th will be issued a $0.78 dividend. The ex-dividend date is Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.81%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

ConocoPhillips Profile

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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