ConocoPhillips $COP Shares Sold by Mitchell Capital Management Co.

Mitchell Capital Management Co. lowered its position in ConocoPhillips (NYSE:COP) by 9.2% in the second quarter, HoldingsChannel reports. The fund owned 45,692 shares of the energy producer’s stock after selling 4,616 shares during the quarter. Mitchell Capital Management Co.’s holdings in ConocoPhillips were worth $4,187,000 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 boosted its stake in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth about $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter worth about $35,000. IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter worth about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $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 Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays lowered their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Susquehanna lowered their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Jefferies Financial Group set a $124.00 target price on shares of ConocoPhillips in a research report on Sunday. Finally, Capital One Financial lifted their target price on shares of ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.52.

ConocoPhillips Stock Down 4.5%

Shares of NYSE COP opened at $87.83 on Monday. The company’s 50-day simple moving average is $94.60 and its 200-day simple moving average is $92.44. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The firm has a market cap of $109.70 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

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. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the business earned $1.98 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

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.