Philip James Wealth Mangement LLC Sells 821 Shares of ConocoPhillips $COP

Philip James Wealth Mangement LLC cut its holdings in shares of ConocoPhillips (NYSE:COP) by 1.1% in the 2nd quarter, Holdings Channel reports. The firm owned 74,720 shares of the energy producer’s stock after selling 821 shares during the period. ConocoPhillips accounts for about 0.9% of Philip James Wealth Mangement LLC’s holdings, making the stock its 27th largest position. Philip James Wealth Mangement LLC’s holdings in ConocoPhillips were worth $6,705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Financial Network Wealth Advisors LLC lifted its stake in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips in the 1st quarter valued at $31,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips in the 1st quarter valued at $35,000. IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips in the 1st quarter valued at $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of ConocoPhillips by 418.6% in the 1st 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 during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

NYSE COP opened at $95.39 on Thursday. The company has a market capitalization of $119.13 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.49 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The stock has a fifty day simple moving average of $94.98 and a 200 day simple moving average of $93.00. 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 (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 earnings per share. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on COP shares. Susquehanna dropped their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. BMO Capital Markets increased their price target on ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Melius Research started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Finally, Scotiabank increased their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.14.

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.