Moran Wealth Management LLC Sells 93 Shares of ConocoPhillips (NYSE:COP)

Moran Wealth Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,710 shares of the energy producer’s stock after selling 93 shares during the quarter. Moran Wealth Management LLC’s holdings in ConocoPhillips were worth $706,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Price T Rowe Associates Inc. MD raised its holdings in shares of ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares during the last quarter. Legal & General Group Plc lifted its position in shares of ConocoPhillips by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after buying an additional 438,241 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of ConocoPhillips by 19.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock worth $717,093,000 after buying an additional 1,101,685 shares in the last quarter. Boston Partners boosted its stake in shares of ConocoPhillips by 10.3% in the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock worth $567,111,000 after buying an additional 415,878 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of ConocoPhillips by 10.1% in the second quarter. Clearbridge Investments LLC now owns 3,546,526 shares of the energy producer’s stock valued at $405,652,000 after acquiring an additional 326,597 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COP has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Stock Down 1.5 %

Shares of NYSE COP opened at $111.71 on Friday. The business has a 50-day simple moving average of $108.74 and a two-hundred day simple moving average of $111.48. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a market cap of $128.57 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.92 and a beta of 1.21. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.16 EPS. Research analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

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.