Hoertkorn Richard Charles Sells 100 Shares of ConocoPhillips (NYSE:COP)

Hoertkorn Richard Charles lowered its holdings in ConocoPhillips (NYSE:COP) by 0.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,207 shares of the energy producer’s stock after selling 100 shares during the quarter. ConocoPhillips comprises approximately 0.6% of Hoertkorn Richard Charles’ holdings, making the stock its 29th largest holding. Hoertkorn Richard Charles’ holdings in ConocoPhillips were worth $1,496,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stephens Consulting LLC grew its position in shares of 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 last quarter. Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips in the 1st quarter worth approximately $31,000. Ruedi Wealth Management Inc. grew its position in shares of 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 last quarter. Valued Wealth Advisors LLC grew its position in shares of ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares during the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in ConocoPhillips during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $104.49 on Thursday. The firm has a 50-day simple moving average of $108.74 and a 200-day simple moving average of $114.21. The stock has a market capitalization of $121.34 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21. 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 has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results 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 business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 earnings per share. On average, equities analysts predict that ConocoPhillips will post 7.95 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 25.86%.

Wall Street Analysts Forecast Growth

COP has been the topic of several research analyst reports. Barclays dropped their target price on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.94.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were 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 of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

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.