ConocoPhillips $COP Holdings Lessened by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its ConocoPhillips stake by 63.3% in the third quarter, leaving it with 12,568 shares valued at approximately $1.57 million. Institutional investors collectively own 82.36% of the company.
• ConocoPhillips shares were trading at $150.91, up 3.6%, near their 12-month high of $152.77. The company recently reported quarterly EPS of $3.24, exceeding estimates, while revenue rose 32.4% year over year to $19.52 billion.
• The company declared a quarterly dividend of $0.84, equivalent to an annualized $3.36 payout and a 2.2% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $145, though recent targets range as high as $174.

Axxcess Wealth Management LLC trimmed its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 63.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 12,568 shares of the energy producer's stock after selling 21,717 shares during the quarter. Axxcess Wealth Management LLC's holdings in ConocoPhillips were worth $1,573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Warwick Investment Management Inc. boosted its stake in shares of ConocoPhillips by 2.1% in the 3rd quarter. Warwick Investment Management Inc. now owns 4,066 shares of the energy producer's stock valued at $509,000 after purchasing an additional 82 shares in the last quarter. Patten Group Inc. increased its holdings in ConocoPhillips by 1.5% in the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer's stock worth $719,000 after purchasing an additional 83 shares in the last quarter. IFC Advisors LLC raised its position in ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer's stock valued at $2,664,000 after purchasing an additional 84 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of ConocoPhillips by 9.6% during the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer's stock valued at $124,000 after purchasing an additional 88 shares in the last quarter. Finally, Abel Hall LLC grew its holdings in shares of ConocoPhillips by 1.8% during the third quarter. Abel Hall LLC now owns 5,080 shares of the energy producer's stock worth $636,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Up 3.6%

NYSE COP opened at $150.91 on Friday. The stock has a market cap of $181.30 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.45 and a beta of 0.24. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $152.77. The stock's fifty day moving average price is $134.24 and its 200-day moving average price is $123.00.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.52 billion during the quarter, compared to analysts' expectations of $18.79 billion. During the same period in the previous year, the company earned $1.42 earnings per share. The business's revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, equities analysts forecast that ConocoPhillips will post 11.19 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, August 17th. ConocoPhillips's dividend payout ratio (DPR) is presently 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COP. UBS Group lifted their target price on shares of ConocoPhillips from $153.00 to $169.00 and gave the stock a "buy" rating in a research report on Monday, September 14th. Mizuho decreased their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating for the company in a research report on Tuesday, July 7th. Stifel Nicolaus started coverage on shares of ConocoPhillips in a research note on Thursday, September 10th. They set a "hold" rating and a $148.00 price target for the company. Jefferies Financial Group lifted their price target on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a "buy" rating in a report on Tuesday, October 6th. Finally, Freedom Capital raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $145.00.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company's portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.

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