CVA Family Office LLC Has $592,000 Stake in ConocoPhillips (NYSE:COP)

CVA Family Office LLC trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 9.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,620 shares of the energy producer’s stock after selling 579 shares during the period. CVA Family Office LLC’s holdings in ConocoPhillips were worth $592,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of COP. Cooksen Wealth LLC acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $27,000. Stephens Consulting LLC lifted its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the period. Richardson Capital Management LLC acquired a new position in ConocoPhillips in the first quarter valued at approximately $31,000. Northwest Bank & Trust Co acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, Ruedi Wealth Management Inc. lifted its holdings in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

COP stock traded down $1.37 during trading hours on Friday, reaching $110.49. The stock had a trading volume of 6,820,341 shares, compared to its average volume of 5,948,186. The stock has a market capitalization of $128.31 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The stock has a 50-day simple moving average of $109.06 and a 200 day simple moving average of $115.55. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 earnings per share. Analysts predict that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 25.86%.

Analyst Ratings Changes

Several research firms have weighed in on COP. Mizuho cut their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. UBS Group cut 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. Scotiabank cut their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday. BMO Capital Markets increased their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.12.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

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.