Hudson Valley Investment Advisors Inc. ADV Decreases Stock Holdings in ConocoPhillips $COP

Hudson Valley Investment Advisors Inc. ADV reduced its position in shares of ConocoPhillips (NYSE:COP) by 8.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 14,466 shares of the energy producer’s stock after selling 1,271 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in ConocoPhillips were worth $1,298,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Financial Network Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter worth $35,000. IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter worth $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after purchasing an additional 293 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $94.17 on Friday. The company has a 50-day simple moving average of $94.92 and a 200-day simple moving average of $92.91. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a market capitalization of $117.61 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.46 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating 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 business had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the prior year, the company earned $1.98 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. On average, analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on COP shares. Melius initiated coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Royal Bank Of Canada reduced their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, July 11th. Susquehanna reduced their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Finally, Raymond James Financial reduced their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.14.

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.