Paladin Wealth LLC Sells 1,057 Shares of ConocoPhillips $COP

Paladin Wealth LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,549 shares of the energy producer’s stock after selling 1,057 shares during the period. Paladin Wealth LLC’s holdings in ConocoPhillips were worth $677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares in the last quarter. Nuveen LLC acquired a new position in ConocoPhillips during the 1st quarter worth about $658,981,000. AQR Capital Management LLC raised its position in shares of ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after acquiring an additional 3,058,505 shares in the last quarter. GAMMA Investing LLC raised its position in shares of ConocoPhillips by 10,440.1% in the 1st quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer’s stock worth $311,299,000 after acquiring an additional 2,936,066 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $92.60 on Monday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The stock’s 50 day moving average price is $94.75 and its 200-day moving average price is $92.92. The company has a market capitalization of $115.65 billion, a PE ratio of 12.43, a PEG ratio of 2.43 and a beta of 0.69. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the business earned $1.98 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.4%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Analysts Set New Price Targets

A number of brokerages recently commented on COP. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Bank of America decreased their price objective on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Scotiabank boosted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Citigroup decreased their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Finally, Wall Street Zen lowered ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.86.

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.