Journey Advisory Group LLC Has $1.11 Million Holdings in ConocoPhillips (NYSE:COP)

Journey Advisory Group LLC cut its position in ConocoPhillips (NYSE:COP) by 14.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,682 shares of the energy producer’s stock after selling 1,588 shares during the period. Journey Advisory Group LLC’s holdings in ConocoPhillips were worth $1,107,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Impact Partnership Wealth LLC raised its holdings in shares of ConocoPhillips by 108.1% in the 2nd quarter. Impact Partnership Wealth LLC now owns 13,408 shares of the energy producer’s stock valued at $1,534,000 after purchasing an additional 6,964 shares during the period. Deseret Mutual Benefit Administrators increased its position in ConocoPhillips by 8.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 2,048 shares of the energy producer’s stock worth $234,000 after buying an additional 153 shares during the last quarter. Range Financial Group LLC raised its stake in ConocoPhillips by 10.2% in the second quarter. Range Financial Group LLC now owns 2,075 shares of the energy producer’s stock valued at $237,000 after buying an additional 192 shares during the period. Arbor Trust Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 16.2% in the second quarter. Arbor Trust Wealth Advisors LLC now owns 1,784 shares of the energy producer’s stock valued at $204,000 after buying an additional 249 shares during the last quarter. Finally, Vance Wealth Inc. bought a new position in shares of ConocoPhillips during the 2nd quarter worth approximately $307,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.5 %

Shares of ConocoPhillips stock traded down $0.52 on Thursday, hitting $108.04. The stock had a trading volume of 886,721 shares, compared to its average volume of 5,635,909. The stock has a 50 day moving average of $111.50 and a 200 day moving average of $117.04. The firm has a market capitalization of $125.46 billion, a P/E ratio of 12.29, a PEG ratio of 0.85 and a beta of 1.22. ConocoPhillips has a twelve month low of $102.27 and a twelve month high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the previous year, the company earned $1.84 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 8.5 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.15%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays raised their price target on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Wolfe Research started coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. Sanford C. Bernstein decreased their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Royal Bank of Canada lifted their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Finally, Susquehanna decreased their target price on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.24.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.34% of the company’s stock.

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.