Avitas Wealth Management LLC Sells 119 Shares of ConocoPhillips (NYSE:COP)

Avitas Wealth Management LLC cut its stake in ConocoPhillips (NYSE:COP) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 13,489 shares of the energy producer’s stock after selling 119 shares during the period. Avitas Wealth Management LLC’s holdings in ConocoPhillips were worth $1,420,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the third quarter worth about $26,000. Stephens Consulting LLC increased its holdings in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the period. Ruedi Wealth Management Inc. increased its holdings in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after buying an additional 150 shares during the period. Y.D. More Investments Ltd acquired a new position in ConocoPhillips in the 2nd quarter worth approximately $35,000. Finally, Fairway Wealth LLC increased its holdings in ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after buying an additional 153 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

COP stock opened at $103.03 on Thursday. The business has a 50 day moving average price of $108.02 and a 200 day moving average price of $113.20. The stock has a market cap of $119.64 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 0.85 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 7.85 earnings per share for the current fiscal year.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on COP shares. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Sanford C. Bernstein reduced their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Scotiabank cut their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Barclays cut their price objective on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $136.94.

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.