ConocoPhillips (NYSE:COP) Position Lessened by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,424 shares of the energy producer’s stock after selling 99 shares during the quarter. Raleigh Capital Management Inc.’s holdings in ConocoPhillips were worth $782,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in COP. Richardson Capital Management LLC bought a new stake in shares of ConocoPhillips in the 1st quarter worth $31,000. Ruedi Wealth Management Inc. lifted its holdings in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Stephens Consulting LLC boosted its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Valued Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $35,000. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of several recent research reports. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Susquehanna cut their target price on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a research report on Friday. Mizuho decreased their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wolfe Research started coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Finally, Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.94.

ConocoPhillips Trading Down 0.6 %

NYSE:COP opened at $104.99 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $108.90 and its 200-day moving average is $114.48. The firm has a market cap of $121.92 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 EPS. Equities analysts anticipate that ConocoPhillips will post 7.99 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 25.86%.

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.