Financial Partners Group Inc Reduces Holdings in ConocoPhillips (NYSE:COP)

Financial Partners Group Inc lowered its position in ConocoPhillips (NYSE:COP) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,275 shares of the energy producer’s stock after selling 127 shares during the quarter. Financial Partners Group Inc’s holdings in ConocoPhillips were worth $375,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Cooksen Wealth LLC purchased a new stake in ConocoPhillips in the 4th quarter worth about $27,000. Sachetta LLC bought a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Richardson Capital Management LLC bought a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Cape Investment Advisory Inc. boosted its holdings in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares during the period. Finally, Ruedi Wealth Management Inc. grew its position in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several research analyst reports. Wolfe Research began coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Bank of America restated a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. Royal Bank of Canada lifted their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Finally, Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.53.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 0.0 %

COP traded down $0.05 on Friday, hitting $111.18. The company had a trading volume of 3,819,194 shares, compared to its average volume of 6,649,837. The stock has a market capitalization of $129.11 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock has a fifty day moving average price of $111.56 and a 200-day moving average price of $117.04. ConocoPhillips has a 12-month low of $102.27 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the previous year, the firm earned $1.84 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts predict that ConocoPhillips will post 8.64 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Monday, August 12th. ConocoPhillips’s payout ratio is presently 26.27%.

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.