Conservest Capital Advisors Inc. Sells 1,244 Shares of ConocoPhillips $COP

Conservest Capital Advisors Inc. reduced its position in shares of ConocoPhillips (NYSE:COP) by 23.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,000 shares of the energy producer’s stock after selling 1,244 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in ConocoPhillips were worth $359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bogart Wealth LLC boosted its holdings in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at about $31,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at about $37,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

NYSE COP opened at $88.01 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The stock has a market cap of $109.92 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.35 and a beta of 0.62. The company’s 50 day moving average is $93.32 and its two-hundred day moving average is $91.98. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released 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. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter last year, the business earned $1.98 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share 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 paid a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays dropped their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Scotiabank raised their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Finally, Capital One Financial raised their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $115.63.

About ConocoPhillips

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.