J.W. Cole Advisors Inc. Has $3.43 Million Stake in ConocoPhillips (NYSE:COP)

J.W. Cole Advisors Inc. lessened its stake in shares of ConocoPhillips (NYSE:COP) by 6.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,989 shares of the energy producer’s stock after selling 2,057 shares during the period. J.W. Cole Advisors Inc.’s holdings in ConocoPhillips were worth $3,430,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of COP. Gilbert & Cook Inc. lifted its position in shares of ConocoPhillips by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock valued at $1,560,000 after acquiring an additional 483 shares during the period. Meridian Wealth Management LLC lifted its position in shares of ConocoPhillips by 9.2% during the 4th quarter. Meridian Wealth Management LLC now owns 2,919 shares of the energy producer’s stock valued at $339,000 after acquiring an additional 247 shares during the period. First Heartland Consultants Inc. lifted its position in shares of ConocoPhillips by 4.6% during the 4th quarter. First Heartland Consultants Inc. now owns 2,354 shares of the energy producer’s stock valued at $273,000 after acquiring an additional 104 shares during the period. Private Wealth Management Group LLC acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $34,000. Finally, Missouri Trust & Investment Co lifted its position in shares of ConocoPhillips by 336.1% during the 4th quarter. Missouri Trust & Investment Co now owns 519 shares of the energy producer’s stock valued at $60,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on COP. Wolfe Research began coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research note on Friday. Sanford C. Bernstein decreased their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Scotiabank decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.24.

ConocoPhillips Stock Performance

NYSE COP opened at $103.50 on Friday. 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 1.33 and a quick ratio of 1.19. The firm has a market cap of $120.19 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 0.78 and a beta of 1.22. The company has a fifty day moving average price of $110.16 and a 200-day moving average price of $116.70.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) 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 analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 EPS. As a group, equities research analysts predict that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.24%. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.34% of the stock is owned by company insiders.

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.