Valmark Advisers Inc. Reduces Position in ConocoPhillips (NYSE:COP)

Valmark Advisers Inc. cut its position in shares of ConocoPhillips (NYSE:COP) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,365 shares of the energy producer’s stock after selling 607 shares during the period. Valmark Advisers Inc.’s holdings in ConocoPhillips were worth $563,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips during the 4th quarter worth about $26,000. 10Elms LLP bought a new stake in ConocoPhillips during the 4th quarter valued at about $28,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips during the 4th quarter valued at about $32,000. Garde Capital Inc. bought a new stake in ConocoPhillips during the 1st quarter valued at about $35,000. Finally, Canton Hathaway LLC bought a new stake in ConocoPhillips during the 4th quarter valued at about $36,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on COP shares. Citigroup decreased their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a report on Wednesday, May 14th. Bank of America decreased their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. UBS Group decreased their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Morgan Stanley lifted their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.30.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson bought 5,300 shares of the company’s stock in a transaction on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president now owns 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Trading Down 2.5%

NYSE COP opened at $89.41 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The firm has a market cap of $113.02 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. The company has a 50 day moving average price of $89.84 and a 200 day moving average price of $95.28. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter in the previous year, the business posted $2.05 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.49%. 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.