Westwood Holdings Group Inc. Cuts Stock Position in ConocoPhillips $COP

Westwood Holdings Group Inc. trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 12.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,886 shares of the energy producer’s stock after selling 10,326 shares during the period. Westwood Holdings Group Inc.’s holdings in ConocoPhillips were worth $6,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its stake in shares of ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares in the last quarter. Activest Wealth Management boosted its holdings in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the period. Financial Network Wealth Advisors LLC grew its position in ConocoPhillips by 341.5% in 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 purchased a new stake in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. acquired a new position in shares of ConocoPhillips during the first quarter worth $37,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of COP opened at $91.44 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. 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 firm has a market cap of $112.99 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 2.36 and a beta of 0.58. The stock has a 50 day moving average of $90.93 and a 200-day moving average of $91.93.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results 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. The business had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 EPS. As a group, analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is 47.52%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven acquired 5,768 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Wolfe Research reaffirmed an “outperform” rating and set a $131.00 target price on shares of ConocoPhillips in a research report on Thursday, November 6th. Barclays cut their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Melius Research assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Finally, Royal Bank Of Canada upped their target price on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $115.33.

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.