WealthPLAN Partners LLC Sells 124 Shares of ConocoPhillips (NYSE:COP)

WealthPLAN Partners LLC lowered its position in ConocoPhillips (NYSE:COP) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,497 shares of the energy producer’s stock after selling 124 shares during the quarter. WealthPLAN Partners LLC’s holdings in ConocoPhillips were worth $368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First National Trust Co lifted its holdings in shares of ConocoPhillips by 2.7% in the 3rd quarter. First National Trust Co now owns 50,527 shares of the energy producer’s stock worth $5,319,000 after buying an additional 1,336 shares during the period. Keystone Financial Services lifted its stake in ConocoPhillips by 23.4% in the third quarter. Keystone Financial Services now owns 4,708 shares of the energy producer’s stock worth $496,000 after acquiring an additional 893 shares during the period. Lynx Investment Advisory grew its holdings in ConocoPhillips by 7.5% during the 3rd quarter. Lynx Investment Advisory now owns 2,733 shares of the energy producer’s stock worth $288,000 after acquiring an additional 191 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in ConocoPhillips by 37.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 14,554 shares of the energy producer’s stock valued at $1,532,000 after purchasing an additional 3,937 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of ConocoPhillips by 15.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 126,546 shares of the energy producer’s stock valued at $13,323,000 after purchasing an additional 16,996 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on COP. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Mizuho raised their price objective on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Trading Down 1.3 %

NYSE COP opened at $110.64 on Wednesday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market capitalization of $127.34 billion, a PE ratio of 13.16, a P/E/G ratio of 0.91 and a beta of 1.21. The company has a fifty day moving average of $107.69 and a 200 day moving average of $112.04.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 EPS. Research analysts forecast that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.82%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

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.