ConocoPhillips $COP Shares Sold by Old Port Advisors

Old Port Advisors lowered its stake in ConocoPhillips (NYSE:COP) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,423 shares of the energy producer’s stock after selling 151 shares during the period. Old Port Advisors’ holdings in ConocoPhillips were worth $576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in COP. Patton Fund Management Inc. purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $215,000. Kathmere Capital Management LLC lifted its position in ConocoPhillips by 19.8% during the second quarter. Kathmere Capital Management LLC now owns 6,678 shares of the energy producer’s stock worth $599,000 after buying an additional 1,104 shares during the period. ST Germain D J Co. Inc. grew its holdings in ConocoPhillips by 20.6% in the second quarter. ST Germain D J Co. Inc. now owns 4,084 shares of the energy producer’s stock valued at $366,000 after purchasing an additional 699 shares during the period. Novem Group boosted its holdings in ConocoPhillips by 7.3% in the second quarter. Novem Group now owns 50,098 shares of the energy producer’s stock valued at $4,496,000 after acquiring an additional 3,404 shares during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new stake in ConocoPhillips during the 2nd quarter worth approximately $62,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on COP shares. Raymond James Financial reduced their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Morgan Stanley reissued an “overweight” rating and issued a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Susquehanna reduced their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Melius assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Finally, Royal Bank Of Canada reduced their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, July 11th. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $120.14.

ConocoPhillips Stock Up 1.7%

Shares of COP stock opened at $98.47 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The firm has a market cap of $122.98 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.59 and a beta of 0.69. The stock has a 50 day moving average of $94.85 and a 200-day moving average of $93.02. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the firm posted $1.98 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

ConocoPhillips Company 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.