Cassady Schiller Wealth Management LLC Lowers Holdings in ConocoPhillips (NYSE:COP)

Cassady Schiller Wealth Management LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 53.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 438 shares of the energy producer’s stock after selling 500 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in ConocoPhillips were worth $46,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the 3rd quarter valued at approximately $26,000. Stephens Consulting LLC lifted its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the third quarter worth $31,000. Y.D. More Investments Ltd purchased a new position in ConocoPhillips during the second quarter valued at $35,000. Finally, Fairway Wealth LLC increased its holdings in ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Susquehanna increased their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Finally, UBS Group reduced their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Six investment 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. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Stock Down 0.5 %

Shares of NYSE:COP opened at $112.32 on Friday. The firm has a market capitalization of $129.27 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. The business has a 50 day simple moving average of $108.01 and a two-hundred day simple moving average of $111.68. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. 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 (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 analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the business earned $2.16 EPS. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. On average, equities analysts predict that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a $0.78 dividend. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.78%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

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.