JFS Wealth Advisors LLC Cuts Stock Holdings in ConocoPhillips $COP

JFS Wealth Advisors LLC decreased its stake in shares of ConocoPhillips (NYSE:COP) by 21.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,297 shares of the energy producer’s stock after selling 348 shares during the period. JFS Wealth Advisors LLC’s holdings in ConocoPhillips were worth $116,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Financial Network Wealth Advisors LLC lifted its holdings in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC bought a new stake in ConocoPhillips during the first quarter worth $31,000. Garde Capital Inc. bought a new stake in ConocoPhillips during the first quarter worth $35,000. IMA Advisory Services Inc. bought a new stake in ConocoPhillips during the first quarter worth $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after acquiring an additional 293 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $87.83 on Friday. The firm has a market cap of $109.70 billion, a PE ratio of 11.79, a PEG ratio of 2.33 and a beta of 0.62. The stock’s fifty day moving average price is $94.60 and its two-hundred day moving average price is $92.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38.

ConocoPhillips (NYSE:COP) last released 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. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the company posted $1.98 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent analyst reports. Melius Research initiated coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Raymond James Financial dropped their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Barclays lowered their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.23.

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.