ConocoPhillips $COP Shares Sold by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC lowered its position in ConocoPhillips (NYSE:COP) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,094 shares of the energy producer’s stock after selling 708 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in ConocoPhillips were worth $1,265,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Network Wealth Advisors LLC grew its holdings in 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 buying an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips during the 1st quarter valued at $31,000. Garde Capital Inc. acquired a new stake in ConocoPhillips during the 1st quarter valued at $35,000. IMA Advisory Services Inc. acquired a new stake in ConocoPhillips during the 1st quarter valued at $37,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after buying an additional 293 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 4.5%

Shares of COP opened at $87.83 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $109.70 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The stock’s fifty day simple moving average is $94.60 and its 200 day simple moving average is $92.52. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $1.98 EPS. On average, equities research analysts forecast 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. Investors of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a report on Wednesday. Susquehanna decreased their price objective on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Raymond James Financial decreased their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $117.23.

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.