Financial Advocates Investment Management Decreases Holdings in ConocoPhillips $COP

Financial Advocates Investment Management lowered its position in ConocoPhillips (NYSE:COP) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,424 shares of the energy producer’s stock after selling 644 shares during the quarter. Financial Advocates Investment Management’s holdings in ConocoPhillips were worth $935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after buying an additional 31,736,423 shares during the period. Nuveen LLC bought a new stake in ConocoPhillips in the first quarter valued at approximately $658,981,000. Primecap Management Co. CA boosted its stake in shares of ConocoPhillips by 66.0% during the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after purchasing an additional 3,135,315 shares during the period. AQR Capital Management LLC increased its stake in shares of ConocoPhillips by 190.5% in the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after buying an additional 3,058,505 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after buying an additional 2,080,625 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In related news, Director William H. Mcraven acquired 5,768 shares of the stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

Shares of COP stock opened at $87.18 on Thursday. The company’s fifty day moving average price is $90.09 and its 200-day moving average price is $91.87. The stock has a market cap of $107.73 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $108.99.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. During the same period last year, the company posted $1.78 EPS. ConocoPhillips’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on COP shares. UBS Group reduced their price target on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. The Goldman Sachs Group dropped their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Barclays cut 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. Susquehanna decreased their price objective on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a report on Monday, October 20th. Finally, Evercore ISI cut their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday, October 6th. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.16.

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.