Vance Wealth LLC Lowers Stock Holdings in ConocoPhillips (NYSE:COP)

Vance Wealth LLC trimmed its position in ConocoPhillips (NYSE:COP) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,542 shares of the energy producer’s stock after selling 180 shares during the quarter. Vance Wealth LLC’s holdings in ConocoPhillips were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Albion Financial Group UT raised its stake in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $27,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, DiNuzzo Private Wealth Inc. raised its stake in ConocoPhillips by 310.1% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 365 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 276 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $90.33 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $114.19 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.79 and a beta of 0.64. The business has a fifty day simple moving average of $93.09 and a two-hundred day simple moving average of $98.84. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $122.11.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter last year, the firm posted $2.05 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent research reports. Susquehanna reduced their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Morgan Stanley increased their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Barclays cut their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and cut their target price for the stock from $138.00 to $107.00 in a report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.74.

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.