ConocoPhillips (NYSE:COP) Shares Sold by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 11.4% in the second quarter, HoldingsChannel.com reports. The firm owned 950 shares of the energy producer’s stock after selling 122 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in ConocoPhillips were worth $109,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Cooksen Wealth LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $27,000. Sachetta LLC purchased a new position in ConocoPhillips during the fourth quarter valued at $27,000. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at about $31,000. Cape Investment Advisory Inc. grew its position in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the period. Finally, Ruedi Wealth Management Inc. increased its stake 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.

Analyst Ratings Changes

COP has been the topic of several research analyst reports. Sanford C. Bernstein lowered their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Barclays lifted their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Wells Fargo & Company reduced their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Mizuho lowered their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Scotiabank dropped their target price on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $142.29.

ConocoPhillips Stock Up 0.3 %

COP stock opened at $108.64 on Thursday. The firm has a market cap of $126.16 billion, a PE ratio of 12.30, a PEG ratio of 0.78 and a beta of 1.22. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The firm’s 50 day moving average price is $109.89 and its 200-day moving average price is $116.59.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion for 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 quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

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

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the business’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 value of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Company 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.