ConocoPhillips $COP Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its stake in ConocoPhillips (NYSE:COP) by 1.2% during the second quarter, Holdings Channel.com reports. The fund owned 45,347 shares of the energy producer’s stock after selling 529 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in ConocoPhillips were worth $4,069,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. NBC Securities Inc. boosted its stake in ConocoPhillips by 114,680.0% during the 1st quarter. NBC Securities Inc. now owns 5,739 shares of the energy producer’s stock worth $602,000 after purchasing an additional 5,734 shares during the last quarter. Merit Financial Group LLC boosted its stake in ConocoPhillips by 89.4% during the 1st quarter. Merit Financial Group LLC now owns 53,174 shares of the energy producer’s stock worth $5,584,000 after purchasing an additional 25,097 shares during the last quarter. RFG Advisory LLC boosted its stake in ConocoPhillips by 71.0% during the 1st quarter. RFG Advisory LLC now owns 12,400 shares of the energy producer’s stock worth $1,302,000 after purchasing an additional 5,149 shares during the last quarter. Smith Anglin Financial LLC boosted its stake in ConocoPhillips by 5.3% during the 1st quarter. Smith Anglin Financial LLC now owns 3,255 shares of the energy producer’s stock worth $342,000 after purchasing an additional 164 shares during the last quarter. Finally, Romano Brothers AND Company boosted its stake in ConocoPhillips by 7.7% during the 1st quarter. Romano Brothers AND Company now owns 9,747 shares of the energy producer’s stock worth $1,024,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on COP. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Citigroup lowered their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Melius Research began coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Raymond James Financial lowered their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Finally, Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.14.

ConocoPhillips Trading Up 0.8%

Shares of COP stock opened at $95.39 on Thursday. The company’s 50-day moving average price is $94.98 and its 200-day moving average price is $93.00. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a market cap of $119.13 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.49 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 EPS. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

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.