Royal London Asset Management Ltd. Has $70.65 Million Stock Holdings in ConocoPhillips $COP

Royal London Asset Management Ltd. reduced its holdings in ConocoPhillips (NYSE:COP) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 679,558 shares of the energy producer’s stock after selling 7,587 shares during the quarter. Royal London Asset Management Ltd. owned about 0.06% of ConocoPhillips worth $70,647,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips during the fourth quarter worth $25,000. Strive Asset Management LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at approximately $28,000. Frazier Financial Advisors LLC grew its holdings in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Allied Private Wealth LLC bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $32,000. Finally, BNP Paribas bought a new position in ConocoPhillips in the second quarter worth $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $130.46 on Friday. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The stock has a market capitalization of $156.73 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.36 and a beta of 0.11. The firm has a fifty day moving average of $117.42 and a two-hundred day moving average of $118.56.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. ConocoPhillips’s dividend payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Raymond James Financial reissued an “underperform” rating and issued a $168.00 price target on shares of ConocoPhillips in a research report on Monday. Susquehanna lifted their price target on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Barclays reduced their price target on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group boosted their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.29.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.