Eads & Heald Wealth Management Cuts Position in ConocoPhillips $COP

Eads & Heald Wealth Management trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 17.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,407 shares of the energy producer’s stock after selling 910 shares during the period. Eads & Heald Wealth Management’s holdings in ConocoPhillips were worth $395,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Nuveen LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at about $658,981,000. AQR Capital Management LLC lifted its position in ConocoPhillips by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after acquiring an additional 3,058,505 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares during the period. Finally, Deutsche Bank AG boosted its holdings in ConocoPhillips by 53.8% in the 1st quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after acquiring an additional 1,834,118 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on COP shares. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Scotiabank lifted their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Melius assumed coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. UBS Group lifted their target price on ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Susquehanna reduced their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.77.

ConocoPhillips Stock Performance

Shares of COP stock opened at $94.17 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company’s 50-day simple moving average is $94.92 and its 200-day simple moving average is $92.79. The stock has a market capitalization of $117.61 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.49 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the company earned $1.98 earnings per share. ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis 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%.

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.