Sigma Planning Corp Cuts Position in ConocoPhillips $COP

Sigma Planning Corp cut its stake in ConocoPhillips (NYSE:COP) by 9.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,118 shares of the energy producer’s stock after selling 1,688 shares during the quarter. Sigma Planning Corp’s holdings in ConocoPhillips were worth $1,536,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in COP. Brown Advisory Inc. increased its holdings in shares of ConocoPhillips by 1.0% in the 1st quarter. Brown Advisory Inc. now owns 116,888 shares of the energy producer’s stock valued at $12,276,000 after acquiring an additional 1,101 shares during the period. Stratos Wealth Advisors LLC grew its stake in ConocoPhillips by 4.4% during the 1st quarter. Stratos Wealth Advisors LLC now owns 3,240 shares of the energy producer’s stock worth $340,000 after buying an additional 136 shares during the last quarter. Silverlake Wealth Management LLC grew its stake in ConocoPhillips by 9.3% during the 1st quarter. Silverlake Wealth Management LLC now owns 2,845 shares of the energy producer’s stock worth $299,000 after buying an additional 241 shares during the last quarter. Greenleaf Trust grew its stake in ConocoPhillips by 3.8% during the 1st quarter. Greenleaf Trust now owns 28,738 shares of the energy producer’s stock worth $3,018,000 after buying an additional 1,060 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in ConocoPhillips by 7.3% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 13,384 shares of the energy producer’s stock worth $1,406,000 after buying an additional 913 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on COP. The Goldman Sachs Group dropped their target price on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Barclays dropped their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Raymond James Financial dropped their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Capital One Financial boosted their target price on ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Finally, Weiss Ratings cut ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $114.63.

ConocoPhillips Stock Performance

Shares of COP stock opened at $87.79 on Thursday. The stock has a market cap of $109.65 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. The business has a 50-day simple moving average of $92.08 and a 200-day simple moving average of $92.03. 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 has a 52-week low of $79.88 and a 52-week high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly 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. The company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 EPS. On average, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

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.