Sigma Planning Corp Cuts Position in ConocoPhillips $COP

Sigma Planning Corp lessened its position in shares of ConocoPhillips (NYSE:COP) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,118 shares of the energy producer’s stock after selling 1,688 shares during the quarter. Sigma Planning Corp’s holdings in ConocoPhillips were worth $1,536,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COP. Bogart Wealth LLC grew its holdings in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares in the last quarter. Activest Wealth Management lifted its stake in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its stake in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.1%

Shares of NYSE COP opened at $87.79 on Thursday. 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 business has a fifty day simple moving average of $92.08 and a two-hundred day simple moving average of $92.03. The firm has a market cap of $109.65 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38.

ConocoPhillips (NYSE:COP) last issued 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 business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 EPS. Analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. Wall Street Zen lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Jefferies Financial Group lowered their price objective on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Raymond James Financial lowered their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Wells Fargo & Company began coverage on ConocoPhillips in a research note on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective for the company. Finally, Weiss Ratings lowered ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $114.63.

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.