ConocoPhillips $COP Stock Holdings Lowered by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. reduced its holdings in ConocoPhillips (NYSE:COP) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,264 shares of the energy producer’s stock after selling 276 shares during the quarter. Raleigh Capital Management Inc.’s holdings in ConocoPhillips were worth $562,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Tritonpoint Wealth LLC increased its position in shares of ConocoPhillips by 1.3% in the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after acquiring an additional 110 shares in the last quarter. First National Bank Sioux Falls increased its position in shares of ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after acquiring an additional 113 shares in the last quarter. KLCM Advisors Inc. increased its position in shares of ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after acquiring an additional 115 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of ConocoPhillips by 3.9% in the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock worth $334,000 after acquiring an additional 118 shares in the last quarter. Finally, Oregon Pacific Wealth Management LLC increased its position in shares of ConocoPhillips by 5.8% in the second quarter. Oregon Pacific Wealth Management LLC now owns 2,229 shares of the energy producer’s stock worth $200,000 after acquiring an additional 123 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

COP stock opened at $95.72 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $119.55 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 2.59 and a beta of 0.69. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The firm has a 50 day moving average of $94.95 and a two-hundred day moving average of $92.97.

ConocoPhillips (NYSE:COP) last posted 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 company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. 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 firm posted $1.98 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is currently 41.88%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COP. Susquehanna dropped their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Melius started coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Finally, Melius Research started coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $120.14.

ConocoPhillips 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.