Exencial Wealth Advisors LLC Trims Stock Position in ConocoPhillips (NYSE:COP)

Key Points

• Exencial Wealth Advisors LLC reduced its stake in ConocoPhillips by 44.6% during the first quarter, now holding 20,346 shares worth approximately $2.14 million.
• Several hedge funds have increased their holdings in ConocoPhillips, with Price T Rowe Associates Inc. boosting its position by 13.8%, now owning shares valued at $4.55 billion.
• The company announced a quarterly dividend of $0.78 per share, with a current annualized dividend yield of 3.3% and a payout ratio of 39.64%.

Exencial Wealth Advisors LLC cut its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 44.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,346 shares of the energy producer's stock after selling 16,364 shares during the period. Exencial Wealth Advisors LLC's holdings in ConocoPhillips were worth $2,137,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. Second Line Capital LLC raised its holdings in ConocoPhillips by 2.2% in the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock worth $495,000 after purchasing an additional 108 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its position in shares of ConocoPhillips by 1.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock valued at $703,000 after buying an additional 110 shares during the period. LRI Investments LLC raised its stake in ConocoPhillips by 3.6% in the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock worth $316,000 after buying an additional 110 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in ConocoPhillips by 3.9% in the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock worth $334,000 after buying an additional 118 shares during the period. Finally, Northeast Financial Consultants Inc boosted its position in ConocoPhillips by 2.9% during the 4th quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer's stock valued at $432,000 after acquiring an additional 122 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group increased their target price on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Susquehanna lowered their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Citigroup reduced their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Raymond James Financial increased their price target on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Roth Capital restated a "buy" rating and issued a $108.00 price objective on shares of ConocoPhillips in a report on Thursday. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and an average target price of $120.63.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction on Monday, June 16th. The stock was acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company's stock.

ConocoPhillips Stock Up 1.4%

Shares of ConocoPhillips stock traded up $1.31 on Friday, reaching $93.91. The company's stock had a trading volume of 8,764,610 shares, compared to its average volume of 6,026,880. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The firm's fifty day simple moving average is $92.77 and its two-hundred day simple moving average is $93.73. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $118.72 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 2.41 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. ConocoPhillips's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.98 EPS. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.78 dividend. The ex-dividend date is Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is currently 39.64%.

ConocoPhillips Company 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.