Vance Wealth LLC Sells 180 Shares of ConocoPhillips (NYSE:COP)

Vance Wealth LLC trimmed its holdings in ConocoPhillips (NYSE:COP) by 6.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,542 shares of the energy producer’s stock after selling 180 shares during the quarter. Vance Wealth LLC’s holdings in ConocoPhillips were worth $252,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of COP. Vanguard Group Inc. grew its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Capital International Investors grew its stake in shares of ConocoPhillips by 4.9% during the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock valued at $3,101,989,000 after acquiring an additional 1,473,027 shares during the period. Geode Capital Management LLC lifted its holdings in ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company lowered their price target on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. UBS Group decreased their price objective on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Bank of America cut ConocoPhillips from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $138.00 to $107.00 in a report on Tuesday, April 29th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Finally, Susquehanna decreased their price objective on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.74.

ConocoPhillips Trading Down 2.3%

ConocoPhillips stock opened at $90.33 on Tuesday. The stock has a 50-day moving average of $93.09 and a two-hundred day moving average of $98.84. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a one year low of $79.88 and a one year high of $122.11. The stock has a market cap of $114.19 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same period last year, the business posted $2.05 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

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.