Drucker Wealth 3.0 LLC Lowers Stake in ConocoPhillips $COP

Drucker Wealth 3.0 LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 27.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,063 shares of the energy producer’s stock after selling 1,895 shares during the period. Drucker Wealth 3.0 LLC’s holdings in ConocoPhillips were worth $479,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC lifted its holdings in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new position in ConocoPhillips during the first quarter valued at approximately $31,000. Garde Capital Inc. purchased a new position in ConocoPhillips during the first quarter valued at approximately $35,000. IMA Advisory Services Inc. purchased a new position in ConocoPhillips during the first quarter valued at approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after purchasing an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 4.5%

Shares of COP opened at $87.83 on Friday. The company’s fifty day moving average is $94.60 and its 200 day moving average is $92.52. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The stock has a market capitalization of $109.70 billion, a PE ratio of 11.79, a P/E/G ratio of 2.33 and a beta of 0.62. 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 quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the previous year, the business posted $1.98 earnings per share. ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is currently 41.88%.

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Morgan Stanley reissued an “overweight” rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Raymond James Financial lowered their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Barclays lowered their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Mizuho lowered their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.23.

ConocoPhillips 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.