Fulcrum Capital LLC Sells 345 Shares of ConocoPhillips $COP

Fulcrum Capital LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 10.0% in the second quarter, HoldingsChannel.com reports. The fund owned 3,097 shares of the energy producer’s stock after selling 345 shares during the quarter. Fulcrum Capital LLC’s holdings in ConocoPhillips were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in COP. Charles Schwab Investment Management Inc. lifted its position in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after buying an additional 31,736,423 shares in the last quarter. Nuveen LLC purchased a new stake in shares of ConocoPhillips in the first quarter worth about $658,981,000. AQR Capital Management LLC raised its position in ConocoPhillips by 190.5% during the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after purchasing an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. raised its position in ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after purchasing an additional 2,080,625 shares during the period. Finally, Deutsche Bank AG raised its position in ConocoPhillips by 53.8% during the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock valued at $550,334,000 after purchasing an additional 1,834,118 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

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 stock has a market capitalization 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. The stock’s fifty day simple moving average is $94.60 and its two-hundred day simple moving average is $92.59. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38.

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, beating the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.98 EPS. As a group, analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent research reports. Royal Bank Of Canada decreased their price objective on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research report on Friday, July 11th. Barclays reduced their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday. Evercore ISI reduced their price target on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Monday, October 6th. Susquehanna reduced their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Finally, Melius began coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $117.23.

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.