ConocoPhillips $COP Shares Sold by BXM Wealth LLC

BXM Wealth LLC cut its holdings in ConocoPhillips (NYSE:COP) by 92.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,972 shares of the energy producer’s stock after selling 37,044 shares during the period. BXM Wealth LLC’s holdings in ConocoPhillips were worth $392,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in ConocoPhillips in the fourth quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund acquired a new stake in ConocoPhillips during the 4th quarter worth $28,000. Strive Asset Management LLC purchased a new stake in ConocoPhillips in the third quarter valued at $28,000. Finally, BNP Paribas purchased a new position in shares of ConocoPhillips during the second quarter worth about $33,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.5%

NYSE COP opened at $104.33 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $127.11 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.17 and a beta of 0.11. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The firm has a 50-day moving average price of $116.94 and a 200 day moving average price of $112.02.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the business posted $2.09 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts expect that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips’s dividend payout ratio is 57.05%.

Analyst Ratings Changes

A number of analysts recently issued reports on COP shares. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research report on Monday, June 22nd. Roth Mkm upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. Citigroup upped their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Barclays raised their price objective on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Wolfe Research increased their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.