ConocoPhillips $COP Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 26,272 shares of the energy producer’s stock after selling 239 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in ConocoPhillips were worth $2,358,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. Tritonpoint Wealth LLC boosted its holdings in ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after purchasing an additional 110 shares in the last quarter. First National Bank Sioux Falls boosted its stake in shares of ConocoPhillips by 4.6% during the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after acquiring an additional 113 shares in the last quarter. KLCM Advisors Inc. boosted its stake in shares of ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after acquiring an additional 115 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock worth $334,000 after acquiring an additional 118 shares in the last quarter. Finally, Oregon Pacific Wealth Management LLC boosted its stake in shares of ConocoPhillips by 5.8% during the 2nd quarter. Oregon Pacific Wealth Management LLC now owns 2,229 shares of the energy producer’s stock worth $200,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $95.39 on Thursday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. 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 stock’s 50 day moving average price is $94.98 and its 200 day moving average price is $93.00. The firm has a market cap of $119.13 billion, a P/E ratio of 12.80, a PEG ratio of 2.49 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted its earnings results 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. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the company earned $1.98 EPS. ConocoPhillips’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips’s payout ratio is 41.88%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Mizuho decreased their price target on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Melius assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Royal Bank Of Canada decreased their price target on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Finally, BMO Capital Markets boosted their price target on ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $120.14.

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.