Walser Wealth Management Company A Ltd Liability Co Reduces Stock Position in ConocoPhillips $COP

Walser Wealth Management Company A Ltd Liability Co lessened its holdings in ConocoPhillips (NYSE:COP) by 77.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,649 shares of the energy producer’s stock after selling 9,041 shares during the quarter. Walser Wealth Management Company A Ltd Liability Co’s holdings in ConocoPhillips were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in ConocoPhillips in the 4th quarter worth about $25,000. KERR FINANCIAL PLANNING Corp bought a new position in ConocoPhillips in the 3rd quarter worth about $28,000. Board of the Pension Protection Fund bought a new position in ConocoPhillips in the 4th quarter worth about $28,000. Strive Asset Management LLC purchased a new position in shares of ConocoPhillips during the third quarter worth approximately $28,000. Finally, BNP Paribas bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $33,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 2.7%

Shares of COP traded up $2.79 during mid-day trading on Tuesday, hitting $106.37. 957,094 shares of the company traded hands, compared to its average volume of 8,873,116. The company has a market capitalization of $129.59 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.20 and a beta of 0.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $115.76 and a 200 day moving average of $112.25. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. Equities research analysts anticipate that ConocoPhillips will post 9.66 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Analyst Upgrades and Downgrades

COP has been the topic of several research reports. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a report on Monday, June 22nd. Truist Financial set a $128.00 target price on ConocoPhillips in a report on Friday, May 1st. Barclays raised their price target on ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Capital One Financial dropped their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $134.60.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.