ConocoPhillips (NYSE:COP) Stock Position Cut by Western Wealth Management LLC

Western Wealth Management LLC decreased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 74.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,081 shares of the energy producer's stock after selling 20,424 shares during the period. Western Wealth Management LLC's holdings in ConocoPhillips were worth $702,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in COP. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth $27,000. 10Elms LLP purchased a new position in shares of ConocoPhillips in the 4th quarter worth $28,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips in the fourth quarter valued at $32,000. Finally, DiNuzzo Private Wealth Inc. grew its position in ConocoPhillips by 310.1% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 365 shares of the energy producer's stock valued at $36,000 after acquiring an additional 276 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $0.15 during mid-day trading on Thursday, hitting $84.73. The company had a trading volume of 1,758,175 shares, compared to its average volume of 7,387,219. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. The stock has a market cap of $107.11 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm's 50 day simple moving average is $91.14 and its two-hundred day simple moving average is $97.80.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter last year, the company earned $2.05 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.68%. The ex-dividend date is Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on COP shares. Barclays cut their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Bank of America reduced their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Susquehanna dropped their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research report on Monday, May 12th. Morgan Stanley upped their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada cut their price objective on ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.89.

About ConocoPhillips

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.