ConocoPhillips $COP Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. decreased its stake in shares of ConocoPhillips (NYSE:COP) by 72.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,323 shares of the energy producer’s stock after selling 14,194 shares during the quarter. Meeder Asset Management Inc.’s holdings in ConocoPhillips were worth $553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Frazier Financial Advisors LLC grew its position in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips during the 4th quarter worth approximately $25,000. Ballast Advisors LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $36,000. Evergreen Advisors LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $36,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Mizuho lowered their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Capital One Financial cut their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Wall Street Zen raised ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays dropped their price objective on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.48.

ConocoPhillips Stock Performance

NYSE COP opened at $129.82 on Wednesday. The company has a fifty day moving average of $114.31 and a two-hundred day moving average of $117.12. The company has a market capitalization of $155.96 billion, a PE ratio of 17.17, a P/E/G ratio of 1.40 and a beta of 0.11. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. 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 (NYSE:COP) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 EPS. As a group, analysts expect that ConocoPhillips will post 10.05 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips’s payout ratio is currently 44.44%.

ConocoPhillips Company 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.