Venturi Wealth Management LLC Trims Stock Holdings in ConocoPhillips $COP

Venturi Wealth Management LLC reduced its holdings in ConocoPhillips (NYSE:COP) by 0.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 160,546 shares of the energy producer’s stock after selling 603 shares during the quarter. Venturi Wealth Management LLC’s holdings in ConocoPhillips were worth $14,407,000 at the end of the most recent quarter.

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

ConocoPhillips Stock Up 0.3%

COP opened at $95.18 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock has a market cap of $118.87 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 2.51 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The company’s 50-day moving average price is $94.83 and its two-hundred day moving average price is $92.75.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion for 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 company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.98 earnings per share. As a group, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Melius Research assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Raymond James Financial reduced their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Susquehanna reduced their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Barclays reduced their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, UBS Group increased their target price on ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.23.

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.