Wealthfront Advisers LLC Sells 6,636 Shares of ConocoPhillips $COP

Wealthfront Advisers LLC lowered its holdings in ConocoPhillips (NYSE:COP) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,602 shares of the energy producer’s stock after selling 6,636 shares during the quarter. Wealthfront Advisers LLC’s holdings in ConocoPhillips were worth $18,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of COP. Charles Schwab Investment Management Inc. raised its position in ConocoPhillips by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after buying an additional 287,970 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of ConocoPhillips by 1.6% during the 2nd quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock valued at $1,291,706,000 after acquiring an additional 224,201 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of ConocoPhillips by 31.4% in the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after acquiring an additional 2,575,803 shares during the period. Primecap Management Co. CA raised its holdings in shares of ConocoPhillips by 66.0% during the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after purchasing an additional 3,135,315 shares during the last quarter. Finally, Boston Partners lifted its position in ConocoPhillips by 4.0% during the second quarter. Boston Partners now owns 6,424,232 shares of the energy producer’s stock valued at $577,471,000 after purchasing an additional 244,810 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

NYSE COP opened at $107.50 on Wednesday. The business’s fifty day moving average is $97.24 and its 200 day moving average is $93.89. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $108.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. The company has a market capitalization of $132.84 billion, a PE ratio of 16.96 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The company had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter in the previous year, the company earned $1.98 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th will be paid a dividend of $0.84 per share. The ex-dividend date is Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. ConocoPhillips’s dividend payout ratio (DPR) is presently 53.00%.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the transaction, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. The trade was a 60.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on COP shares. Roth Mkm reaffirmed a “buy” rating and issued a $112.00 target price on shares of ConocoPhillips in a research report on Thursday, February 5th. Wolfe Research raised their price target on ConocoPhillips from $122.00 to $123.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating and lowered their target price for the company from $108.00 to $105.00 in a report on Friday, December 5th. Finally, JPMorgan Chase & Co. boosted their price target on ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Seventeen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $114.78.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.