ConocoPhillips $COP Shares Sold by Walser Wealth Management Company A Ltd Liability Co

Walser Wealth Management Company A Ltd Liability Co reduced its holdings in ConocoPhillips (NYSE:COP) by 77.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,649 shares of the energy producer’s stock after selling 9,041 shares during the period. Walser Wealth Management Company A Ltd Liability Co’s holdings in ConocoPhillips were worth $350,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in COP. AXA S.A. grew its holdings in ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after acquiring an additional 40,499 shares during the period. Sei Investments Co. lifted its holdings in ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares during the period. BNP Paribas purchased a new stake in ConocoPhillips in the 2nd quarter worth approximately $33,000. Osterweis Capital Management Inc. purchased a new stake in ConocoPhillips in the 2nd quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC grew its stake in shares of ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after purchasing an additional 1,675 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock traded up $2.79 on Tuesday, reaching $106.37. 957,094 shares of the company were exchanged, compared to its average volume of 8,873,116. The company has a market cap of $129.59 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.20 and a beta of 0.12. The business has a 50-day moving average price of $115.76 and a 200 day moving average price of $112.25. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. Equities research analysts forecast that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. The Goldman Sachs Group cut their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Raymond James Financial dropped their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Wolfe Research lifted their price objective on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, April 6th. BMO Capital Markets decreased their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Sanford C. Bernstein increased their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $134.60.

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.