Congress Wealth Management LLC DE Sells 2,508 Shares of ConocoPhillips (NYSE:COP)

Congress Wealth Management LLC DE lowered its stake in shares of ConocoPhillips (NYSE:COP) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,875 shares of the energy producer’s stock after selling 2,508 shares during the period. Congress Wealth Management LLC DE’s holdings in ConocoPhillips were worth $17,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC lifted its holdings in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Cooksen Wealth LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at $27,000. Sachetta LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at $27,000. Finally, Richardson Capital Management LLC acquired a new stake in ConocoPhillips during the 1st quarter valued at $31,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock traded down $0.01 during midday trading on Monday, reaching $114.37. The company had a trading volume of 3,925,074 shares, compared to its average volume of 5,685,900. The company has a market capitalization of $133.76 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24. The stock has a 50 day moving average price of $118.30 and a 200-day moving average price of $117.62. ConocoPhillips has a 1-year low of $99.35 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. Equities research analysts expect that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Scotiabank raised their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Raymond James reissued a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Finally, Susquehanna lifted their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

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.