ConocoPhillips (NYSE:COP) Shares Sold by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC cut its stake in ConocoPhillips (NYSE:COP) by 12.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,576 shares of the energy producer’s stock after selling 1,502 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in ConocoPhillips were worth $1,113,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of COP. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at $26,000. Stephens Consulting LLC boosted its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the third quarter valued at about $31,000. Y.D. More Investments Ltd acquired a new stake in ConocoPhillips during the second quarter worth about $35,000. Finally, Fairway Wealth LLC raised its holdings in shares of ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COP. Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group cut their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Wolfe Research started coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Price Performance

Shares of COP stock opened at $111.82 on Thursday. The firm has a fifty day moving average of $107.71 and a two-hundred day moving average of $111.90. The firm has a market cap of $128.69 billion, a P/E ratio of 13.30, a P/E/G ratio of 0.90 and a beta of 1.21. 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 issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.16 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.79%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is 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.