Trade Report: Today, River Wealth Advisors LLC Sold shares of ConocoPhillips (COP)

Today, River Wealth Advisors LLC Sold shares of ConocoPhillips (COP)

River Wealth Advisors LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,215 shares of the company’s stock after selling 1,109 shares during the period. River Wealth Advisors LLC’s holdings in ConocoPhillips were worth $1,965,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in COP. DNB Asset Management AS increased its stake in ConocoPhillips by 4.0% in the second quarter. DNB Asset Management AS now owns 108,723 shares of the company’s stock worth $4,740,000 after buying an additional 4,200 shares during the period. British Columbia Investment Management Corp increased its stake in ConocoPhillips by 3.1% in the second quarter. British Columbia Investment Management Corp now owns 755,071 shares of the company’s stock worth $32,921,000 after buying an additional 22,656 shares during the period. Washington Trust Bank increased its stake in ConocoPhillips by 3.2% in the second quarter. Washington Trust Bank now owns 10,874 shares of the company’s stock worth $474,000 after buying an additional 338 shares during the period. NEXT Financial Group Inc increased its stake in ConocoPhillips by 0.3% in the second quarter. NEXT Financial Group Inc now owns 17,453 shares of the company’s stock worth $760,000 after buying an additional 53 shares during the period. Finally, Raymond James Trust N.A. increased its stake in ConocoPhillips by 0.5% in the second quarter. Raymond James Trust N.A. now owns 37,635 shares of the company’s stock worth $1,640,000 after buying an additional 200 shares during the period. 64.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of ConocoPhillips (NYSE:COP) traded down 1.19% during trading on Friday, reaching $45.75. 3,494,389 shares of the company’s stock were exchanged. The stock’s market capitalization is $56.69 billion. The company’s 50-day moving average is $43.61 and its 200 day moving average is $42.80. ConocoPhillips has a 52 week low of $31.05 and a 52 week high of $54.75.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 27th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.03. ConocoPhillips had a negative net margin of 29.45% and a negative return on equity of 10.68%. During the same quarter in the prior year, the company earned ($0.38) earnings per share. On average, analysts forecast that ConocoPhillips will post ($2.83) earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, October 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, October 13th. ConocoPhillips’s payout ratio is currently -17.67%.

A number of research firms have recently issued reports on COP. Vetr downgraded shares of ConocoPhillips from a “strong-buy” rating to a “buy” rating and set a $50.41 price target on the stock. in a research note on Monday. CLSA downgraded shares of ConocoPhillips from an “outperform” rating to an “underperform” rating in a research note on Tuesday, November 15th. Clsa Americas cut shares of ConocoPhillips from an “outperform” rating to an “underperform” rating in a report on Monday, November 14th. Royal Bank Of Canada lifted their price objective on shares of ConocoPhillips from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Finally, Barclays PLC restated an “overweight” rating and issued a $60.00 price objective on shares of ConocoPhillips in a report on Monday, October 10th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $50.87.

ConocoPhillips Company Profile

ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.

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