Waldron Private Wealth LLC Lowers Holdings in ConocoPhillips (NYSE:COP)

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Waldron Private Wealth LLC cut its position in ConocoPhillips (NYSE:COP) by 34.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,316 shares of the energy producer’s stock after selling 2,853 shares during the quarter. Waldron Private Wealth LLC’s holdings in ConocoPhillips were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in ConocoPhillips by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 15,108,105 shares of the energy producer’s stock valued at $940,354,000 after acquiring an additional 659,942 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in ConocoPhillips by 5.4% in the 1st quarter. Chartwell Investment Partners LLC now owns 33,793 shares of the energy producer’s stock valued at $2,255,000 after acquiring an additional 1,722 shares in the last quarter. Truvestments Capital LLC acquired a new position in ConocoPhillips in the 1st quarter valued at approximately $42,000. Virtu Financial LLC acquired a new position in ConocoPhillips in the 1st quarter valued at approximately $508,000. Finally, Retirement Systems of Alabama raised its holdings in ConocoPhillips by 3.0% in the 1st quarter. Retirement Systems of Alabama now owns 1,165,228 shares of the energy producer’s stock valued at $77,767,000 after acquiring an additional 33,518 shares in the last quarter. Institutional investors and hedge funds own 73.64% of the company’s stock.

Several equities analysts have commented on the company. Mizuho raised ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price target for the company from $74.00 to $80.00 in a report on Wednesday, June 26th. Credit Suisse Group cut ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price target for the company. in a report on Wednesday, May 1st. ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Zacks Investment Research raised ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price target for the company in a report on Thursday, July 11th. Finally, Morgan Stanley cut their price target on ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $77.07.

Shares of COP stock traded down $1.30 during trading hours on Wednesday, hitting $51.82. The company had a trading volume of 1,615,588 shares, compared to its average volume of 6,560,613. ConocoPhillips has a 12 month low of $52.30 and a 12 month high of $80.24. The company has a market cap of $59.96 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99. The stock’s fifty day moving average is $58.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.64.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.02). ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $9.42 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 4.04 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, July 22nd will be paid a $0.305 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.22 annualized dividend and a dividend yield of 2.35%. ConocoPhillips’s dividend payout ratio is currently 26.93%.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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