Accretive Wealth Partners LLC Reduces Position in ConocoPhillips (NYSE:COP)

Accretive Wealth Partners LLC trimmed its stake in ConocoPhillips (NYSE:COP) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,257 shares of the energy producer’s stock after selling 119 shares during the period. Accretive Wealth Partners LLC’s holdings in ConocoPhillips were worth $1,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $30,021,000. Alpha DNA Investment Management LLC boosted its position in shares of ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after purchasing an additional 7,490 shares in the last quarter. Prospera Financial Services Inc grew its stake in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after buying an additional 13,595 shares during the last quarter. TCW Group Inc. increased its position in ConocoPhillips by 37.8% during the 2nd 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 purchased a new stake in ConocoPhillips in the second quarter valued at about $815,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.5 %

COP stock opened at $111.71 on Friday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm’s fifty day moving average is $108.74 and its 200 day moving average is $111.48. The firm has a market cap of $128.57 billion, a PE ratio of 13.28, a P/E/G ratio of 0.92 and a beta of 1.21.

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

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a $0.78 dividend. 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 annualized dividend and a dividend yield of 2.79%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Upgrades and Downgrades

COP has been the topic of several recent analyst reports. Mizuho upped their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Scotiabank lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Barclays upped their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, UBS Group lowered their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.63.

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.