Raleigh Capital Management Inc. Has $782,000 Stock Holdings in ConocoPhillips (NYSE:COP)

Raleigh Capital Management Inc. decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 1.3% in the third quarter, Holdings Channel reports. The firm owned 7,424 shares of the energy producer’s stock after selling 99 shares during the quarter. Raleigh Capital Management Inc.’s holdings in ConocoPhillips were worth $782,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips during the first quarter worth approximately $31,000. Ruedi Wealth Management Inc. increased its holdings in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Stephens Consulting LLC raised its position in 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 purchasing an additional 104 shares during the last quarter. Valued Wealth Advisors LLC boosted its stake in ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new position in ConocoPhillips in the second quarter valued at approximately $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on COP. Mizuho dropped their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. 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 ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays lowered their price target on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Susquehanna lowered their target price on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a research note on Friday. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $136.94.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $104.99 on Tuesday. The company has a 50-day simple moving average of $108.90 and a two-hundred day simple moving average of $114.48. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The stock has a market capitalization of $121.92 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.84 earnings per share. Analysts forecast that ConocoPhillips will post 7.99 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.86%.

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.