Stratos Wealth Partners LTD. Cuts Stake in ConocoPhillips $COP

Stratos Wealth Partners LTD. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 5.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,516 shares of the energy producer’s stock after selling 1,410 shares during the period. Stratos Wealth Partners LTD.’s holdings in ConocoPhillips were worth $2,290,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Network Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 341.5% during 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 in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth about $31,000. Activest Wealth Management increased its stake in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after purchasing an additional 232 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth about $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth about $37,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $86.53 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $108.07 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 2.29 and a beta of 0.62. The company’s 50-day moving average is $94.04 and its two-hundred day moving average is $91.91. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38.

ConocoPhillips (NYSE:COP) last posted its earnings results 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. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 EPS. Analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. UBS Group lowered their price target on shares of ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Morgan Stanley lowered their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Evercore ISI lowered their price target on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. Royal Bank Of Canada boosted their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Finally, Raymond James Financial lowered their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $115.00.

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.