Louisbourg Investments Inc. Decreases Stock Holdings in ConocoPhillips $COP

Louisbourg Investments Inc. trimmed its position in shares of ConocoPhillips (NYSE:COP) by 11.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,672 shares of the energy producer’s stock after selling 6,400 shares during the quarter. Louisbourg Investments Inc.’s holdings in ConocoPhillips were worth $4,368,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on COP shares. Mizuho cut their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Barclays cut their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday. Evercore ISI cut their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Monday, October 6th. Wells Fargo & Company restated an “overweight” rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Finally, UBS Group increased their price target on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $117.23.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $87.83 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The company’s 50 day moving average is $94.60 and its 200 day moving average is $92.59. 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 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 (NYSE:COP) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 15.26% and a return on equity of 14.60%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.98 EPS. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

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

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.