RBA Wealth Management LLC Sells 324 Shares of ConocoPhillips (NYSE:COP)

RBA Wealth Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,484 shares of the energy producer’s stock after selling 324 shares during the period. RBA Wealth Management LLC’s holdings in ConocoPhillips were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC bought a new position in ConocoPhillips in the third quarter worth about $27,000. West Branch Capital LLC boosted its position in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Cooksen Wealth LLC acquired a new position in ConocoPhillips in the 4th quarter worth approximately $27,000. Sachetta LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $27,000. Finally, Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips during the first quarter worth $31,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COP. Bank of America reiterated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Barclays upped their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Scotiabank boosted their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Morgan Stanley upped their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada raised their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Trading Up 0.6 %

Shares of COP traded up $0.65 during trading on Thursday, reaching $114.77. 2,326,248 shares of the company traded hands, compared to its average volume of 6,326,732. The stock has a 50-day simple moving average of $117.39 and a 200-day simple moving average of $117.59. The stock has a market cap of $134.23 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. On average, analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

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.