ConocoPhillips $COP Shares Sold by Accel Wealth Management

Accel Wealth Management reduced its stake in ConocoPhillips (NYSE:COP) by 28.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,850 shares of the energy producer’s stock after selling 1,560 shares during the period. Accel Wealth Management’s holdings in ConocoPhillips were worth $345,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Financial Network Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of ConocoPhillips during the first quarter valued at about $31,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips during the first quarter valued at about $35,000. IMA Advisory Services Inc. acquired a new stake in shares of ConocoPhillips during the first quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in shares of ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after acquiring an additional 293 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Mizuho reduced their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Citigroup decreased their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, June 11th. Wells Fargo & Company restated an “overweight” rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Finally, BMO Capital Markets lifted their price target on ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.77.

ConocoPhillips Trading Up 0.8%

ConocoPhillips stock opened at $94.17 on Monday. The company’s fifty day simple moving average is $94.92 and its 200-day simple moving average is $92.79. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The stock has a market cap of $117.61 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.49 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the previous year, the company posted $1.98 EPS. ConocoPhillips’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

ConocoPhillips 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.