ConocoPhillips (NYSE:COP) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC reduced its holdings in ConocoPhillips (NYSE:COP) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,717 shares of the energy producer’s stock after selling 1,549 shares during the period. Avior Wealth Management LLC’s holdings in ConocoPhillips were worth $3,234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COP. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips in the third quarter worth about $26,000. Stephens Consulting LLC boosted its holdings in ConocoPhillips by 69.3% during 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 acquired a new stake in ConocoPhillips during the third quarter valued at $31,000. Y.D. More Investments Ltd purchased a new position in ConocoPhillips in the second quarter valued at $35,000. Finally, Fairway Wealth LLC boosted its stake in shares of ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on COP shares. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Scotiabank reduced 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 report on Thursday, October 10th. BMO Capital Markets upped their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Finally, Mizuho increased their target price on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Price Performance

Shares of COP opened at $113.09 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market cap of $130.16 billion, a PE ratio of 13.45, a P/E/G ratio of 0.92 and a beta of 1.21. The firm has a 50-day simple moving average of $108.35 and a two-hundred day simple moving average of $111.47. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.16 earnings per share. As a group, analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.76%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

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.