ConocoPhillips $COP Stake Lowered by Brookmont Capital Management

Brookmont Capital Management trimmed its holdings in ConocoPhillips (NYSE:COP) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,923 shares of the energy producer’s stock after selling 141 shares during the quarter. ConocoPhillips comprises 1.4% of Brookmont Capital Management’s portfolio, making the stock its 22nd largest holding. Brookmont Capital Management’s holdings in ConocoPhillips were worth $2,506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Naples Global Advisors LLC grew its holdings in ConocoPhillips by 8.7% in the 2nd quarter. Naples Global Advisors LLC now owns 17,895 shares of the energy producer’s stock worth $1,606,000 after buying an additional 1,428 shares in the last quarter. Pure Financial Advisors LLC lifted its position in shares of ConocoPhillips by 31.6% during the 2nd quarter. Pure Financial Advisors LLC now owns 5,745 shares of the energy producer’s stock valued at $516,000 after acquiring an additional 1,379 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of ConocoPhillips by 0.5% in the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 154,533 shares of the energy producer’s stock valued at $13,868,000 after purchasing an additional 748 shares in the last quarter. Woodward Diversified Capital LLC lifted its holdings in shares of ConocoPhillips by 71.3% in the second quarter. Woodward Diversified Capital LLC now owns 12,224 shares of the energy producer’s stock valued at $1,097,000 after purchasing an additional 5,086 shares in the last quarter. Finally, Trilogy Capital Inc. increased its stake in shares of ConocoPhillips by 2.5% in the second quarter. Trilogy Capital Inc. now owns 30,901 shares of the energy producer’s stock worth $2,773,000 after acquiring an additional 753 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 0.8%

ConocoPhillips stock opened at $95.39 on Thursday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The firm has a market capitalization of $119.13 billion, a PE ratio of 12.80, a P/E/G ratio of 2.49 and a beta of 0.62. The company’s 50-day moving average is $94.98 and its 200-day moving average is $93.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the business posted $1.98 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given 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 dividend payout ratio is 41.88%.

Analysts Set New Price Targets

Several research firms have commented on COP. Melius assumed coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Citigroup dropped their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Mizuho cut their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Raymond James Financial lowered their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Finally, Scotiabank lifted their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $120.14.

About ConocoPhillips

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.