Drucker Wealth 3.0 LLC Takes $662,000 Position in ConocoPhillips (NYSE:COP)

Drucker Wealth 3.0 LLC bought a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,788 shares of the energy producer’s stock, valued at approximately $662,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. acquired a new position in ConocoPhillips during the 4th quarter worth about $13,468,000. Harbor Investment Advisory LLC lifted its position in shares of ConocoPhillips by 2.2% during the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after purchasing an additional 212 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of ConocoPhillips by 5.6% in the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after purchasing an additional 1,390 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of ConocoPhillips in the second quarter valued at approximately $30,021,000. Finally, EP Wealth Advisors LLC increased its stake in ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after buying an additional 4,578 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’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 sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Stock Down 2.9 %

Shares of NYSE COP opened at $105.73 on Thursday. The stock has a market capitalization of $122.78 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 0.86 and a beta of 1.22. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The firm has a 50-day moving average price of $109.54 and a 200 day moving average price of $116.55. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping 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 previous year, the company earned $1.84 EPS. Equities research analysts anticipate that ConocoPhillips will post 8.14 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.19%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Analyst Upgrades and Downgrades

COP has been the subject of several recent research reports. Sanford C. Bernstein decreased their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Scotiabank cut their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company decreased 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. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Barclays boosted their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

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.