Focus Partners Advisor Solutions LLC Sells 7,163 Shares of ConocoPhillips $COP

Focus Partners Advisor Solutions LLC lessened its stake in ConocoPhillips (NYSE:COP) by 18.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 32,617 shares of the energy producer’s stock after selling 7,163 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in ConocoPhillips were worth $3,391,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. AXA S.A. lifted its position in ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after acquiring an additional 40,499 shares in the last quarter. Sei Investments Co. increased its holdings in ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after purchasing an additional 44,852 shares in the last quarter. BNP Paribas bought a new position in ConocoPhillips during the 2nd quarter worth about $33,000. Osterweis Capital Management Inc. bought a new position in ConocoPhillips during the 2nd quarter worth about $151,000. Finally, Main Street Financial Solutions LLC raised its stake in shares of ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after purchasing an additional 1,675 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.7%

Shares of NYSE:COP opened at $127.64 on Tuesday. The company’s 50-day moving average price is $114.05 and its two-hundred day moving average price is $116.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The stock has a market capitalization of $153.34 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.40 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 EPS. On average, equities analysts forecast that ConocoPhillips will post 10.05 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COP. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Wells Fargo & Company increased their price objective on ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research report on Monday, June 22nd. Susquehanna boosted their target price on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. Finally, Freedom Capital raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $137.48.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.