Beaird Harris Wealth Management LLC Sells 97 Shares of ConocoPhillips (NYSE:COP)

Beaird Harris Wealth Management LLC decreased its stake in shares of ConocoPhillips (NYSE:COP) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,614 shares of the energy producer’s stock after selling 97 shares during the period. Beaird Harris Wealth Management LLC’s holdings in ConocoPhillips were worth $871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cooksen Wealth LLC bought a new position in ConocoPhillips during the 4th quarter worth about $27,000. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips during the first quarter worth about $31,000. Ruedi Wealth Management Inc. raised its position 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 buying an additional 150 shares during the last quarter. Stephens Consulting LLC lifted its stake in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Finally, Valued Wealth Advisors LLC boosted its position in ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after acquiring an additional 82 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the topic of a number of recent research reports. Bank of America reiterated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wolfe Research began coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. UBS Group dropped their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company reduced their target price on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $141.24.

ConocoPhillips Trading Up 2.3 %

COP stock opened at $104.71 on Friday. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The company’s 50-day simple moving average is $108.85 and its 200 day simple moving average is $116.31. The company has a market capitalization of $121.59 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.86 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $1.84 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.14 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. ConocoPhillips’s payout ratio is 26.27%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

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.