BNC Wealth Management LLC Sells 17,012 Shares of ConocoPhillips (NYSE:COP)

BNC Wealth Management LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 86.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,642 shares of the energy producer’s stock after selling 17,012 shares during the period. BNC Wealth Management LLC’s holdings in ConocoPhillips were worth $278,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of COP. Manchester Capital Management LLC lifted its holdings in shares of ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares in the last quarter. Vicus Capital lifted its position in shares of ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after buying an additional 94 shares in the last quarter. Montag A & Associates Inc. boosted its stake in shares of ConocoPhillips by 2.5% in the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after buying an additional 96 shares during the last quarter. Excalibur Management Corp increased its position in shares of ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after acquiring an additional 96 shares during the last quarter. Finally, First Hawaiian Bank lifted its holdings in ConocoPhillips by 0.3% during the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. BMO Capital Markets increased their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays upped their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Stock Up 4.0 %

Shares of NYSE:COP opened at $113.60 on Thursday. The firm has a fifty day moving average price of $107.81 and a two-hundred day moving average price of $112.53. The company has a market cap of $130.74 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.89 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data 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 company had revenue of $13.60 billion during 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 firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $2.16 earnings per share. Analysts anticipate that ConocoPhillips will post 7.79 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.75%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by company insiders.

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.