Kiker Wealth Management LLC Cuts Stock Holdings in ConocoPhillips $COP

by · The Cerbat Gem

Kiker Wealth Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COP – Free Report) by 20.7% during the second quarter, HoldingsChannel.com reports. The firm owned 978 shares of the energy producer’s stock after selling 255 shares during the period. Kiker Wealth Management LLC’s holdings in ConocoPhillips were worth $88,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Wellington Management Group LLP raised its stake in ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after purchasing an additional 437,709 shares during the period. Goldman Sachs Group Inc. raised its stake in ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the period. Ameriprise Financial Inc. raised its stake in shares of ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after acquiring an additional 1,073,906 shares during the period. Finally, Nuveen LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at $658,981,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Jefferies Financial Group cut their target price on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley reissued an “overweight” rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Raymond James Financial cut their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Melius initiated coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Finally, Evercore ISI cut their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday, October 6th. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $117.65.

View Our Latest Research Report on ConocoPhillips

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $88.77 on Tuesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The company has a market capitalization of $110.87 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 2.33 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. The firm’s fifty day moving average price is $94.52 and its 200 day moving average price is $92.35.

ConocoPhillips (NYSE:COP – Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the firm posted $1.98 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.5%. ConocoPhillips’s payout ratio is 41.88%.

ConocoPhillips Profile

(Free Report)

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.

See Also

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