Raleigh Capital Management Inc. Has $562,000 Stock Position in ConocoPhillips $COP

Raleigh Capital Management Inc. trimmed its position in ConocoPhillips (NYSE:COP) by 4.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 6,264 shares of the energy producer’s stock after selling 276 shares during the period. Raleigh Capital Management Inc.’s holdings in ConocoPhillips were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Elevation Point Wealth Partners LLC lifted its stake in shares of ConocoPhillips by 83.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock worth $1,897,000 after buying an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its stake in shares of ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock worth $5,125,000 after buying an additional 30,000 shares during the last quarter. Aberdeen Group plc lifted its stake in shares of ConocoPhillips by 49.3% in the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after buying an additional 264,726 shares during the last quarter. ORG Wealth Partners LLC raised its stake in ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock valued at $698,000 after purchasing an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its stake in ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after purchasing an additional 54,900 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on COP. Morgan Stanley reiterated an “overweight” rating and set a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. UBS Group upped their target price on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Susquehanna cut their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Melius Research began coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price for the company. Finally, Citigroup cut their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, June 11th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.14.

ConocoPhillips Trading Down 2.8%

Shares of COP stock opened at $95.72 on Tuesday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The stock has a market cap of $119.55 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 2.59 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a fifty day moving average of $94.95 and a 200-day moving average of $92.97.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion during 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 business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 EPS. On average, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

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.