Ritholtz Wealth Management Sells 149 Shares of ConocoPhillips (NYSE:COP)

Ritholtz Wealth Management lessened its holdings in ConocoPhillips (NYSE:COP) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,126 shares of the energy producer’s stock after selling 149 shares during the quarter. Ritholtz Wealth Management’s holdings in ConocoPhillips were worth $2,751,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Novak & Powell Financial Services Inc. acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $262,000. EP Wealth Advisors LLC boosted its holdings in ConocoPhillips by 2.6% during the fourth quarter. EP Wealth Advisors LLC now owns 24,023 shares of the energy producer’s stock worth $2,788,000 after buying an additional 608 shares during the last quarter. Scarborough Advisors LLC grew its position in shares of ConocoPhillips by 5.5% during the 4th quarter. Scarborough Advisors LLC now owns 3,015 shares of the energy producer’s stock worth $350,000 after buying an additional 156 shares during the period. Creekmur Asset Management LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $78,000. Finally, Northwest Bank & Trust Co acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein decreased their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Susquehanna reduced their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Mizuho dropped their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.12.

ConocoPhillips Price Performance

NYSE:COP opened at $110.49 on Friday. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a market cap of $128.31 billion, a P/E ratio of 12.32, a P/E/G ratio of 0.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock’s 50-day simple moving average is $109.06 and its 200 day simple moving average is $115.55.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.86%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.