Wambolt & Associates LLC Sells 4,365 Shares of ConocoPhillips (NYSE:COP)

Wambolt & Associates LLC lessened its position in ConocoPhillips (NYSE:COP) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,094 shares of the energy producer’s stock after selling 4,365 shares during the period. Wambolt & Associates LLC’s holdings in ConocoPhillips were worth $2,290,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Albion Financial Group UT increased its stake in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the period. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at $27,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the third quarter worth $31,000. Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips in the fourth quarter valued at $32,000. Finally, Global Wealth Strategies & Associates raised its position in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP opened at $102.28 on Tuesday. The firm has a market capitalization of $130.14 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The stock has a 50 day moving average price of $99.17 and a two-hundred day moving average price of $103.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company reduced their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. UBS Group dropped their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Barclays decreased their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Morgan Stanley initiated coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.05.

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.