Kolinsky Wealth Management LLC Sells 129 Shares of ConocoPhillips (NYSE:COP)

Kolinsky Wealth Management LLC decreased its position in shares of ConocoPhillips (NYSE:COP) by 4.9% in the 3rd quarter, Holdings Channel reports. The firm owned 2,520 shares of the energy producer’s stock after selling 129 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in ConocoPhillips were worth $265,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new position in ConocoPhillips during the 3rd quarter worth approximately $26,000. Stephens Consulting LLC increased its stake in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $108.37 on Friday. 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 company has a market capitalization of $124.72 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 0.88 and a beta of 1.21. The firm’s fifty day moving average price is $108.77 and its two-hundred day moving average price is $110.86. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 EPS. As a group, analysts anticipate that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Susquehanna lifted their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Scotiabank lowered 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 note on Thursday, October 10th. Finally, BMO Capital Markets lifted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Six investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

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.