CX Institutional Sells 590 Shares of ConocoPhillips (NYSE:COP)

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CX Institutional reduced its stake in shares of ConocoPhillips (NYSE:COP) by 34.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,145 shares of the energy producer’s stock after selling 590 shares during the period. CX Institutional’s holdings in ConocoPhillips were worth $65,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COP. Smart Money Group LLC increased its stake in shares of ConocoPhillips by 2.6% in the second quarter. Smart Money Group LLC now owns 6,918 shares of the energy producer’s stock worth $422,000 after purchasing an additional 177 shares during the period. Full Sail Capital LLC increased its stake in ConocoPhillips by 4.6% during the first quarter. Full Sail Capital LLC now owns 4,031 shares of the energy producer’s stock valued at $269,000 after acquiring an additional 179 shares during the period. Liberty Capital Management Inc. increased its stake in ConocoPhillips by 2.0% during the second quarter. Liberty Capital Management Inc. now owns 9,500 shares of the energy producer’s stock valued at $580,000 after acquiring an additional 188 shares during the period. BKD Wealth Advisors LLC increased its stake in ConocoPhillips by 0.3% during the second quarter. BKD Wealth Advisors LLC now owns 68,910 shares of the energy producer’s stock valued at $4,204,000 after acquiring an additional 194 shares during the period. Finally, Valley National Advisers Inc. increased its stake in ConocoPhillips by 64.9% during the second quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock valued at $31,000 after acquiring an additional 198 shares during the period. Institutional investors own 71.40% of the company’s stock.

Shares of COP opened at $56.43 on Friday. ConocoPhillips has a 12-month low of $50.13 and a 12-month high of $74.25. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $60.99 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.54 and a beta of 1.05. The stock’s 50-day moving average price is $55.37 and its 200 day moving average price is $59.50.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $9.42 billion. ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 earnings per share. Equities research analysts expect that ConocoPhillips will post 3.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.98%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, October 16th. ConocoPhillips’s payout ratio is presently 26.93%.

COP has been the topic of several research reports. Morgan Stanley lowered their price target on ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Mizuho upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $74.00 to $80.00 in a research note on Wednesday, June 26th. Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price target on ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Finally, UBS Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $70.00 to $75.00 in a research note on Monday, September 16th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $74.50.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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