KCM Investment Advisors LLC Sells 1,218 Shares of ConocoPhillips $COP

KCM Investment Advisors LLC cut its stake in ConocoPhillips (NYSE:COP) by 13.1% in the second quarter, Holdings Channel.com reports. The firm owned 8,056 shares of the energy producer’s stock after selling 1,218 shares during the quarter. KCM Investment Advisors LLC’s holdings in ConocoPhillips were worth $723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Navalign LLC boosted its position in shares of ConocoPhillips by 1.1% during the second quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock worth $890,000 after buying an additional 108 shares during the period. Tritonpoint Wealth LLC lifted its stake in ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after acquiring an additional 110 shares in the last quarter. Iowa State Bank boosted its position in ConocoPhillips by 0.5% during the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after acquiring an additional 110 shares during the last quarter. First National Bank Sioux Falls grew its stake in shares of ConocoPhillips by 4.6% during the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after acquiring an additional 113 shares in the last quarter. Finally, KLCM Advisors Inc. raised its holdings in shares of ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their target price on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Royal Bank Of Canada increased their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Susquehanna decreased their price objective on ConocoPhillips to $113.00 and set a “positive” rating for the company in a report on Monday, October 20th. Melius Research initiated coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Finally, Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.54.

ConocoPhillips Trading Up 1.3%

ConocoPhillips stock opened at $86.82 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock 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. The stock has a 50-day simple moving average of $91.58 and a 200 day simple moving average of $92.00.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same quarter in the prior year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

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