WealthPLAN Partners LLC Sells 387 Shares of ConocoPhillips $COP

WealthPLAN Partners LLC cut its holdings in ConocoPhillips (NYSE:COP) by 11.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,027 shares of the energy producer’s stock after selling 387 shares during the period. WealthPLAN Partners LLC’s holdings in ConocoPhillips were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Tritonpoint Wealth LLC lifted its stake in ConocoPhillips by 1.3% in the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after purchasing an additional 110 shares during the last quarter. Iowa State Bank lifted its stake in ConocoPhillips by 0.5% in the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares during the last quarter. First National Bank Sioux Falls lifted its stake in ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after purchasing an additional 113 shares during the last quarter. KLCM Advisors Inc. lifted its position in shares of ConocoPhillips by 2.6% during the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after acquiring an additional 115 shares in the last quarter. Finally, Fairvoy Private Wealth LLC lifted its position in shares of ConocoPhillips by 3.5% during the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after acquiring an additional 117 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on COP. Wells Fargo & Company restated an “overweight” rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Melius began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Mizuho dropped their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. UBS Group dropped their target price on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday, October 8th. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.78.

ConocoPhillips Price Performance

NYSE:COP opened at $86.83 on Friday. The firm has a market capitalization of $108.45 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 2.35 and a beta of 0.62. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The stock has a fifty day moving average of $94.19 and a 200 day moving average of $92.16. 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 posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.98 earnings per share. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed 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 of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

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.