ConocoPhillips $COP Position Reduced by RWA Wealth Partners LLC

Key Points

• RWA Wealth Partners LLC reduced its stake in ConocoPhillips by 33.9%, now holding 6,415 shares worth $674,000.
• ConocoPhillips reported $1.42 EPS for its last quarter, beating estimates, and declared a dividend of $0.78 per share with a yield of 3.3%.
• The stock has been rated as a "Moderate Buy" by analysts with a consensus target price of $120.89.

RWA Wealth Partners LLC decreased its position in ConocoPhillips (NYSE:COP - Free Report) by 33.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,415 shares of the energy producer's stock after selling 3,288 shares during the quarter. RWA Wealth Partners LLC's holdings in ConocoPhillips were worth $674,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in COP. MML Investors Services LLC boosted its position in ConocoPhillips by 4.6% in the 4th quarter. MML Investors Services LLC now owns 242,822 shares of the energy producer's stock valued at $24,081,000 after buying an additional 10,734 shares during the last quarter. Transce3nd LLC purchased a new position in ConocoPhillips in the fourth quarter valued at about $74,000. TD Waterhouse Canada Inc. grew its stake in ConocoPhillips by 111.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 30,460 shares of the energy producer's stock valued at $3,020,000 after purchasing an additional 16,086 shares in the last quarter. Stifel Financial Corp increased its holdings in ConocoPhillips by 12.0% during the 4th quarter. Stifel Financial Corp now owns 889,133 shares of the energy producer's stock worth $88,175,000 after purchasing an additional 95,090 shares during the last quarter. Finally, J. Safra Sarasin Holding AG increased its holdings in ConocoPhillips by 25.2% during the 4th quarter. J. Safra Sarasin Holding AG now owns 7,148 shares of the energy producer's stock worth $709,000 after purchasing an additional 1,439 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the company's stock in a transaction on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COP. Royal Bank Of Canada reduced their target price on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research note on Friday, July 11th. Wall Street Zen downgraded shares of ConocoPhillips from a "hold" rating to a "sell" rating in a research note on Friday. Bank of America dropped their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Scotiabank upped their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Finally, Mizuho lowered their price objective on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.95.

ConocoPhillips Stock Performance

COP stock traded up $1.8440 during mid-day trading on Friday, reaching $96.6240. The company had a trading volume of 6,338,392 shares, compared to its average volume of 6,789,525. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The stock has a market capitalization of $120.68 billion, a P/E ratio of 12.97, a P/E/G ratio of 2.53 and a beta of 0.67. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock's 50-day simple moving average is $93.80 and its two-hundred day simple moving average is $93.23.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data 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 business had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 EPS. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, August 18th. ConocoPhillips's payout ratio is 41.88%.

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.