Cwm LLC Sells 26,710 Shares of ConocoPhillips $COP

Cwm LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 23.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 86,054 shares of the energy producer’s stock after selling 26,710 shares during the period. Cwm LLC’s holdings in ConocoPhillips were worth $7,722,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COP. Wealth Enhancement Advisory Services LLC increased its stake in ConocoPhillips by 14.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 269,154 shares of the energy producer’s stock worth $28,267,000 after purchasing an additional 34,284 shares during the period. Cyndeo Wealth Partners LLC increased its stake in ConocoPhillips by 2.6% in the first quarter. Cyndeo Wealth Partners LLC now owns 6,816 shares of the energy producer’s stock worth $716,000 after purchasing an additional 173 shares during the period. Brown Miller Wealth Management LLC purchased a new stake in ConocoPhillips in the first quarter worth $240,000. Sagespring Wealth Partners LLC increased its stake in ConocoPhillips by 11.6% in the first quarter. Sagespring Wealth Partners LLC now owns 11,440 shares of the energy producer’s stock worth $1,201,000 after purchasing an additional 1,187 shares during the period. Finally, Grimes & Company Inc. increased its stake in ConocoPhillips by 1.8% in the first quarter. Grimes & Company Inc. now owns 12,529 shares of the energy producer’s stock worth $1,316,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Melius assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Susquehanna cut their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. BMO Capital Markets raised their price target on ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Roth Capital restated a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $117.13.

ConocoPhillips Price Performance

Shares of COP stock opened at $88.17 on Wednesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The stock’s 50-day moving average is $94.42 and its 200 day moving average is $92.32. The company has a market cap of $110.11 billion, a P/E ratio of 11.83, a PEG ratio of 2.36 and a beta of 0.62. 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 (NYSE:COP) last issued its quarterly earnings data 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. 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 the consensus estimate of $14.39 billion. During the same quarter last year, the company earned $1.98 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal 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 given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

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.