Wealth Dimensions Group Ltd. Sells 231 Shares of ConocoPhillips (NYSE:COP)

by · The Cerbat Gem

Wealth Dimensions Group Ltd. cut its holdings in ConocoPhillips (NYSE:COP – Free Report) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,638 shares of the energy producer’s stock after selling 231 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in ConocoPhillips were worth $278,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in ConocoPhillips in the first quarter valued at approximately $46,000. Epoch Investment Partners Inc. boosted its holdings in shares of ConocoPhillips by 3.6% during the 1st quarter. Epoch Investment Partners Inc. now owns 18,872 shares of the energy producer’s stock valued at $2,402,000 after acquiring an additional 660 shares in the last quarter. Ascent Group LLC grew its position in ConocoPhillips by 142.1% during the 1st quarter. Ascent Group LLC now owns 18,256 shares of the energy producer’s stock worth $2,324,000 after acquiring an additional 10,716 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in ConocoPhillips by 1.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 270,009 shares of the energy producer’s stock worth $34,367,000 after purchasing an additional 3,888 shares in the last quarter. Finally, Waverly Advisors LLC increased its holdings in ConocoPhillips by 33.1% in the 1st quarter. Waverly Advisors LLC now owns 8,131 shares of the energy producer’s stock worth $1,035,000 after purchasing an additional 2,023 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.1 %

Shares of NYSE:COP opened at $111.75 on Friday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The business’s 50-day moving average is $108.91 and its 200-day moving average is $111.32. The company has a market capitalization of $128.61 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 earnings per share. Equities research analysts predict that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.79%. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent research reports. Barclays lifted their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. UBS Group reduced their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, Scotiabank decreased their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.63.

Get Our Latest Research Report on COP

ConocoPhillips Company 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.

Read More

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP – Free Report).