Nicholson Meyer Capital Management Inc. Has $201,000 Stock Position in ConocoPhillips $COP

Nicholson Meyer Capital Management Inc. trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 16.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,243 shares of the energy producer’s stock after selling 450 shares during the period. Nicholson Meyer Capital Management Inc.’s holdings in ConocoPhillips were worth $201,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Oakworth Capital Inc. grew its stake in ConocoPhillips by 46.1% in the second quarter. Oakworth Capital Inc. now owns 3,753 shares of the energy producer’s stock valued at $337,000 after purchasing an additional 1,184 shares in the last quarter. Invesco LLC grew its stake in ConocoPhillips by 1.7% in the second quarter. Invesco LLC now owns 9,197 shares of the energy producer’s stock valued at $825,000 after purchasing an additional 152 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its stake in ConocoPhillips by 17.9% in the second quarter. Moss Adams Wealth Advisors LLC now owns 2,787 shares of the energy producer’s stock valued at $250,000 after purchasing an additional 424 shares in the last quarter. GC Wealth Management RIA LLC grew its stake in ConocoPhillips by 77.5% in the second quarter. GC Wealth Management RIA LLC now owns 12,601 shares of the energy producer’s stock valued at $1,131,000 after purchasing an additional 5,500 shares in the last quarter. Finally, R.H. Investment Group LLC grew its stake in ConocoPhillips by 2.1% in the second quarter. R.H. Investment Group LLC now owns 47,003 shares of the energy producer’s stock valued at $4,218,000 after purchasing an additional 960 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup lowered their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Melius assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Finally, UBS Group upped their price target on ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $120.14.

ConocoPhillips Stock Performance

COP opened at $98.47 on Monday. The stock has a 50-day moving average of $94.85 and a 200-day moving average of $92.99. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a market cap of $122.98 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.59 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the prior year, the company earned $1.98 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced 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 was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.2%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

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.