ConocoPhillips $COP Shares Sold by Savant Capital LLC

Savant Capital LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 58.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 57,183 shares of the energy producer’s stock after selling 78,934 shares during the period. Savant Capital LLC’s holdings in ConocoPhillips were worth $5,132,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Aberdeen Group plc raised its holdings in ConocoPhillips by 49.3% in the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after acquiring an additional 264,726 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of ConocoPhillips by 17.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after purchasing an additional 22,827 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in ConocoPhillips by 2.4% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock valued at $304,716,000 after purchasing an additional 78,642 shares during the last quarter. Commonwealth Retirement Investments LLC purchased a new position in ConocoPhillips during the second quarter worth about $1,264,000. Finally, Ashton Thomas Private Wealth LLC boosted its stake in ConocoPhillips by 17.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock worth $3,924,000 after buying an additional 5,627 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. The Goldman Sachs Group dropped their price objective on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Melius initiated coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Barclays decreased their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Roth Capital lowered their price objective on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Finally, Melius Research assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $114.54.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $86.82 on Friday. The firm has a fifty day moving average of $91.58 and a 200-day moving average of $92.00. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $108.43 billion, a P/E ratio of 11.65, a PEG ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. During the same period in the prior year, the company earned $1.78 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.9%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.