ConocoPhillips $COP Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC decreased its position in shares of ConocoPhillips (NYSE:COP) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,546 shares of the energy producer’s stock after selling 603 shares during the period. Venturi Wealth Management LLC’s holdings in ConocoPhillips were worth $14,407,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of 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. Wellington Management Group LLP increased its holdings in shares of ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after purchasing an additional 437,709 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after purchasing an additional 2,080,625 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of ConocoPhillips by 15.1% in the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after purchasing an additional 1,073,906 shares during the period. Finally, Nuveen LLC acquired a new position in shares of ConocoPhillips in the first quarter valued at approximately $658,981,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.3%

COP opened at $95.18 on Wednesday. The business’s fifty day moving average is $94.83 and its two-hundred day moving average is $92.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $118.87 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 2.51 and a beta of 0.62. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38.

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

ConocoPhillips Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on COP shares. Royal Bank Of Canada dropped their target price on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, July 11th. Melius assumed coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Raymond James Financial decreased their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Roth Capital restated a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Finally, Susquehanna decreased their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $117.23.

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.