ConocoPhillips (NYSE:COP) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC cut its position in ConocoPhillips (NYSE:COP) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,567 shares of the energy producer’s stock after selling 903 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in ConocoPhillips were worth $6,482,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. EP Wealth Advisors LLC grew its position in ConocoPhillips by 19.1% in the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after acquiring an additional 4,578 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in ConocoPhillips in the 2nd quarter valued at $30,021,000. Alpha DNA Investment Management LLC boosted its position in ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after buying an additional 7,490 shares in the last quarter. TCW Group Inc. increased its stake in shares of ConocoPhillips by 37.8% in the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after buying an additional 8,231 shares in the last quarter. Finally, Doheny Asset Management CA bought a new position in ConocoPhillips in the 2nd quarter worth approximately $815,000. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on COP. Susquehanna upped their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. UBS Group reduced their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Scotiabank dropped their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Price Performance

Shares of COP stock traded up $0.82 on Wednesday, hitting $113.91. 602,993 shares of the stock traded hands, compared to its average volume of 5,852,117. The firm has a 50 day simple moving average of $108.35 and a two-hundred day simple moving average of $111.47. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The firm has a market cap of $131.10 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.92 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 EPS. As a group, equities research analysts predict that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. ConocoPhillips’s payout ratio is presently 37.10%.

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.