ConocoPhillips (NYSE:COP) Shares Sold by Allworth Financial LP

Allworth Financial LP cut its stake in ConocoPhillips (NYSE:COP) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,684 shares of the energy producer’s stock after selling 106 shares during the period. Allworth Financial LP’s holdings in ConocoPhillips were worth $2,072,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $26,000. Stephens Consulting LLC boosted its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Ruedi Wealth Management Inc. grew its position in ConocoPhillips by 150.0% during the first 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. Y.D. More Investments Ltd acquired a new stake in ConocoPhillips during the second quarter worth about $35,000. Finally, Fairway Wealth LLC raised its holdings in shares of ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets boosted their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wolfe Research initiated coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Susquehanna reduced their target price on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Mizuho reduced their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $136.94.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by insiders.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $104.56 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The firm’s 50-day simple moving average is $108.47 and its 200-day simple moving average is $113.68. The firm has a market cap of $122.29 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data 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. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 earnings per share. Equities analysts forecast that ConocoPhillips will post 7.95 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.