WCG Wealth Advisors LLC Reduces Stock Position in ConocoPhillips (NYSE:COP)

WCG Wealth Advisors LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 2.2% in the second quarter, Holdings Channel.com reports. The fund owned 17,892 shares of the energy producer’s stock after selling 409 shares during the quarter. WCG Wealth Advisors LLC’s holdings in ConocoPhillips were worth $2,046,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares in the last quarter. Capital International Investors raised its position in ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after purchasing an additional 1,856,085 shares in the last quarter. Bank of New York Mellon Corp raised its position in ConocoPhillips by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after purchasing an additional 826,529 shares in the last quarter. Fisher Asset Management LLC raised its position in ConocoPhillips by 2.7% during the 4th quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock valued at $860,398,000 after purchasing an additional 191,519 shares in the last quarter. Finally, Putnam Investments LLC raised its position in ConocoPhillips by 3.6% during the 4th quarter. Putnam Investments LLC now owns 6,079,041 shares of the energy producer’s stock valued at $705,594,000 after purchasing an additional 211,257 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, 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 SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 1.7 %

ConocoPhillips stock opened at $110.51 on Friday. 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 business’s 50-day simple moving average is $109.82 and its two-hundred day simple moving average is $116.55. The company has a market cap of $129.25 billion, a PE ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.22. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. Equities analysts anticipate that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.10%. ConocoPhillips’s payout ratio is presently 26.27%.

Analyst Upgrades and Downgrades

COP has been the subject of several recent research reports. Mizuho reduced their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday. Susquehanna reduced their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Raymond James reissued a “strong-buy” rating and issued a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Bank of America reissued a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, Argus raised ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.29.

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.