ConocoPhillips (NYSE:COP) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,215 shares of the energy producer’s stock after selling 268 shares during the quarter. Western Wealth Management LLC’s holdings in ConocoPhillips were worth $2,228,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter worth $26,000. 10Elms LLP acquired a new position in shares of ConocoPhillips during the 4th quarter worth about $28,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips during the 4th quarter worth about $32,000. Garde Capital Inc. purchased a new position in ConocoPhillips in the 1st quarter valued at about $35,000. Finally, Rakuten Securities Inc. boosted its holdings in ConocoPhillips by 222.0% in the 4th quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock worth $38,000 after buying an additional 262 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Raymond James Financial reissued an “outperform” rating and set a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Royal Bank Of Canada dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 30th. UBS Group reduced their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Scotiabank cut their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction on Monday, June 16th. The stock was bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is owned by insiders.

ConocoPhillips Stock Up 2.1%

Shares of NYSE COP opened at $90.88 on Friday. The company has a market capitalization of $114.89 billion, a P/E ratio of 11.55, a P/E/G ratio of 2.41 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The company has a 50 day simple moving average of $89.93 and a 200-day simple moving average of $95.15. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter last year, the firm earned $2.05 earnings per share. On average, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

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.