Wealth Alliance Advisory Group LLC Trims Stake in ConocoPhillips (NYSE:COP)

Wealth Alliance Advisory Group LLC lessened its position in ConocoPhillips (NYSE:COP) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,390 shares of the energy producer’s stock after selling 700 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in ConocoPhillips were worth $2,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in COP. Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in ConocoPhillips by 512.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after purchasing an additional 3,127,165 shares during the period. Capital International Investors increased its stake in shares of ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after purchasing an additional 1,856,085 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of ConocoPhillips by 3,931.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,455,878 shares of the energy producer’s stock valued at $185,304,000 after purchasing an additional 1,419,764 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of ConocoPhillips by 46.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after purchasing an additional 1,015,158 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

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 dated 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 completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Down 0.5 %

ConocoPhillips stock opened at $113.79 on Friday. The stock has a market cap of $133.08 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 0.85 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. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18. The stock has a fifty day moving average of $111.73 and a 200 day moving average of $117.04.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The company 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%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 8.5 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COP. Wolfe Research began coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. Sanford C. Bernstein lowered their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Scotiabank lowered their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Raymond James reiterated a “strong-buy” rating and set a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $143.65.

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.