Mission Wealth Management LP Reduces Holdings in ConocoPhillips $COP

Mission Wealth Management LP trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,447 shares of the energy producer’s stock after selling 596 shares during the quarter. Mission Wealth Management LP’s holdings in ConocoPhillips were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Network Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 341.5% in 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 stake in ConocoPhillips in the 1st quarter worth $31,000. Bogart Wealth LLC grew its holdings in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares during the last quarter. Activest Wealth Management grew its holdings in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new stake in ConocoPhillips in the 1st quarter worth $37,000. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on COP. BMO Capital Markets lifted their price objective on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Melius started coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Weiss Ratings cut shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Roth Capital cut their target price on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada lifted their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.63.

ConocoPhillips Trading Up 1.0%

ConocoPhillips stock opened at $88.99 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The business’s fifty day simple moving average is $92.66 and its two-hundred day simple moving average is $92.07. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a market capitalization of $111.14 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion for 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%.The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.98 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is currently 41.88%.

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.