Triangle Securities Wealth Management Has $1.29 Million Holdings in ConocoPhillips (NYSE:COP)

Triangle Securities Wealth Management lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,234 shares of the energy producer’s stock after selling 275 shares during the period. Triangle Securities Wealth Management’s holdings in ConocoPhillips were worth $1,285,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of COP. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new position in ConocoPhillips in the fourth quarter valued at $27,000. 10Elms LLP acquired a new position in ConocoPhillips in the fourth quarter valued at $28,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips in the fourth quarter valued at $32,000. Finally, Marshall Investment Management LLC acquired a new position in ConocoPhillips in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COP. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Scotiabank dropped their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Susquehanna dropped their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday, May 12th. Finally, Barclays dropped their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $121.63.

ConocoPhillips Trading Up 1.4%

Shares of COP stock opened at $87.92 on Wednesday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The company has a 50-day simple moving average of $89.83 and a two-hundred day simple moving average of $96.99. The company has a market capitalization of $111.15 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the prior year, the firm posted $2.05 EPS. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.55%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

ConocoPhillips 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.