ConocoPhillips $COP Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC cut its stake in ConocoPhillips (NYSE:COP) by 4.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 81,354 shares of the energy producer’s stock after selling 3,836 shares during the period. Lmcg Investments LLC’s holdings in ConocoPhillips were worth $7,301,000 at the end of the most recent quarter.

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

ConocoPhillips Stock Down 4.5%

Shares of NYSE:COP opened at $87.83 on Friday. 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 company has a fifty day simple moving average of $94.60 and a 200 day simple moving average of $92.59. The firm has a market cap of $109.70 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.44 and a beta of 0.62. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38.

ConocoPhillips (NYSE:COP) last issued its quarterly 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. The business had revenue of $14.94 billion during 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%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.98 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Royal Bank Of Canada cut their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, July 11th. Barclays cut their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday. UBS Group lifted their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Evercore ISI dropped their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday, October 6th. Finally, Melius Research started coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $117.23.

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.