Invesco LLC Reduces Holdings in ConocoPhillips (NYSE:COP)

Invesco LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,813 shares of the energy producer’s stock after selling 150 shares during the period. Invesco LLC’s holdings in ConocoPhillips were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Cooksen Wealth LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at $27,000. Sachetta LLC purchased a new stake in ConocoPhillips in the 4th quarter valued at about $27,000. Richardson Capital Management LLC purchased a new stake in ConocoPhillips in the 1st quarter valued at about $31,000. Cape Investment Advisory Inc. lifted its holdings in shares of ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the last quarter. Finally, Ruedi Wealth Management Inc. lifted its stake in ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on COP shares. Raymond James reaffirmed a “strong-buy” rating and set a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Susquehanna cut their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wolfe Research began coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Sanford C. Bernstein cut their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Scotiabank decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $143.24.

ConocoPhillips Trading Down 0.4 %

COP opened at $105.60 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $102.27 and a 52 week high of $135.18. The business’s 50 day moving average is $111.03 and its two-hundred day moving average is $116.98. The firm has a market cap of $122.63 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 EPS. On average, research analysts predict that ConocoPhillips will post 8.42 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.