Pittenger & Anderson Inc. Sells 244 Shares of ConocoPhillips $COP

Pittenger & Anderson Inc. lowered its position in ConocoPhillips (NYSE:COP) by 28.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 626 shares of the energy producer’s stock after selling 244 shares during the quarter. Pittenger & Anderson Inc.’s holdings in ConocoPhillips were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of COP. Phoenix Financial Ltd. lifted its position in shares of ConocoPhillips by 3.9% during the 2nd quarter. Phoenix Financial Ltd. now owns 13,040 shares of the energy producer’s stock worth $1,170,000 after buying an additional 491 shares during the period. Berkeley Capital Partners LLC lifted its position in shares of ConocoPhillips by 218.2% during the 2nd quarter. Berkeley Capital Partners LLC now owns 24,631 shares of the energy producer’s stock worth $2,210,000 after buying an additional 16,890 shares during the period. Avidian Wealth Enterprises LLC lifted its position in shares of ConocoPhillips by 8.2% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 20,373 shares of the energy producer’s stock worth $1,828,000 after buying an additional 1,544 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of ConocoPhillips by 10.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,028,920 shares of the energy producer’s stock worth $183,466,000 after buying an additional 188,885 shares during the period. Finally, Journey Advisory Group LLC lifted its position in shares of ConocoPhillips by 18.9% during the 2nd quarter. Journey Advisory Group LLC now owns 7,837 shares of the energy producer’s stock worth $703,000 after buying an additional 1,247 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wolfe Research cut their target price on ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday. BMO Capital Markets raised their target price on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Wells Fargo & Company assumed coverage on ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price for the company. Capital One Financial raised their target price on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Finally, Susquehanna cut their target price on ConocoPhillips to $113.00 and set a “positive” rating for the company in a research report on Monday. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $115.63.

ConocoPhillips Trading Down 0.8%

Shares of COP opened at $86.39 on Wednesday. The stock has a fifty day moving average price of $93.75 and a two-hundred day moving average price of $91.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The company has a market cap of $107.90 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 2.30 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the company posted $1.98 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

ConocoPhillips 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.