ConocoPhillips $COP Shares Sold by BXM Wealth LLC

BXM Wealth LLC lessened its position in shares of ConocoPhillips (NYSE:COP) by 92.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,972 shares of the energy producer’s stock after selling 37,044 shares during the quarter. BXM Wealth LLC’s holdings in ConocoPhillips were worth $392,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp purchased a new stake in ConocoPhillips in the 3rd quarter valued at approximately $28,000. Board of the Pension Protection Fund acquired a new stake in ConocoPhillips during the 4th quarter valued at $28,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips during the third quarter valued at $28,000. Finally, BNP Paribas purchased a new stake in ConocoPhillips during the 2nd quarter worth about $33,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of a number of analyst reports. Argus boosted their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Roth Mkm raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. Jefferies Financial Group raised their price target on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Wolfe Research increased their price objective on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $134.04.

ConocoPhillips Stock Down 1.5%

Shares of ConocoPhillips stock opened at $104.33 on Tuesday. The company has a fifty day moving average price of $116.94 and a 200 day moving average price of $112.02. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The stock has a market cap of $127.11 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 1.17 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 earnings per share. Equities research analysts forecast that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. ConocoPhillips’s dividend payout ratio is 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.