Certuity LLC Sells 698 Shares of ConocoPhillips (NYSE:COP)

Certuity LLC lowered its stake in ConocoPhillips (NYSE:COP) by 4.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,066 shares of the energy producer’s stock after selling 698 shares during the quarter. Certuity LLC’s holdings in ConocoPhillips were worth $1,609,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in ConocoPhillips by 512.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after acquiring an additional 3,127,165 shares in the last quarter. Capital International Investors grew its holdings in shares of ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after acquiring an additional 1,856,085 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of ConocoPhillips by 3,931.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,455,878 shares of the energy producer’s stock worth $185,304,000 after acquiring an additional 1,419,764 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of ConocoPhillips by 46.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after acquiring an additional 1,015,158 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COP. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Bank of America reaffirmed a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Wolfe Research assumed coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target for the company. Royal Bank of Canada raised their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Trading Down 1.3 %

Shares of COP stock opened at $106.02 on Friday. The stock has a market capitalization of $123.99 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.85 and a beta of 1.22. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $111.20 and its 200 day moving average is $117.00. ConocoPhillips has a 12-month low of $102.27 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 earnings per share. Research analysts expect that ConocoPhillips will post 8.5 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.19%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

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.