10,000 ConocoPhillips $COP Shares Sold by Canal Insurance CO

Canal Insurance CO decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 18.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,000 shares of the energy producer’s stock after selling 10,000 shares during the period. ConocoPhillips makes up 1.3% of Canal Insurance CO’s portfolio, making the stock its 24th biggest holding. Canal Insurance CO’s holdings in ConocoPhillips were worth $5,632,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Frazier Financial Advisors LLC boosted its holdings in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares in the last quarter. Allied Private Wealth LLC acquired a new position in ConocoPhillips in the second quarter worth approximately $32,000. Evergreen Advisors LLC bought a new position in shares of ConocoPhillips in the first quarter valued at $36,000. Ballast Advisors LLC bought a new position in shares of ConocoPhillips in the first quarter valued at $36,000. Finally, Avalon Trust Co bought a new position in shares of ConocoPhillips in the first quarter valued at $40,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by company insiders.

ConocoPhillips Trading Up 0.1%

Shares of COP stock traded up $0.18 during trading hours on Tuesday, reaching $145.42. 1,846,768 shares of the stock traded hands, compared to its average volume of 8,023,473. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $147.15. The business has a fifty day moving average price of $132.56 and a 200 day moving average price of $122.46. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $174.70 billion, a PE ratio of 19.24, a PEG ratio of 1.45 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 11.19 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised their price objective on ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. The Goldman Sachs Group restated a “buy” rating and issued a $157.00 target price on shares of ConocoPhillips in a report on Tuesday. Weiss Ratings raised ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Wells Fargo & Company upped their target price on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Zacks Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $145.00.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.