Aprio Wealth Management LLC Raises Position in ConocoPhillips (NYSE:COP)

Aprio Wealth Management LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 4.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,125 shares of the energy producer’s stock after acquiring an additional 97 shares during the period. Aprio Wealth Management LLC’s holdings in ConocoPhillips were worth $224,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cooksen Wealth LLC purchased a new stake in ConocoPhillips in the fourth quarter worth $27,000. Stephens Consulting LLC boosted its holdings in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter worth about $31,000. Northwest Bank & Trust Co bought a new position in shares of ConocoPhillips in the 4th quarter worth about $32,000. Finally, Ruedi Wealth Management Inc. lifted its position in ConocoPhillips by 150.0% during 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 during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 3.4 %

Shares of COP stock opened at $110.80 on Wednesday. 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 has a 12 month low of $101.29 and a 12 month high of $135.18. The stock has a market cap of $129.58 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.87 and a beta of 1.21. The company has a 50 day simple moving average of $108.88 and a two-hundred day simple moving average of $115.88.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period in the prior year, the business posted $1.84 EPS. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on COP shares. Barclays cut their price objective on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Susquehanna cut their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, UBS Group lowered their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $138.29.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the 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 completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.