ConocoPhillips (NYSE:COP) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC cut its position in ConocoPhillips (NYSE:COP) by 0.6% in the third quarter, Holdings Channel reports. The firm owned 52,423 shares of the energy producer’s stock after selling 290 shares during the period. Carret Asset Management LLC’s holdings in ConocoPhillips were worth $5,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in 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 worth $4,097,473,000 after purchasing an additional 8,479,963 shares during the last quarter. Capital International Investors increased its position in ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares during the period. International Assets Investment Management LLC raised its stake in ConocoPhillips by 10,634.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock valued at $126,933,000 after acquiring an additional 1,194,434 shares during the last quarter. Clearbridge Investments LLC lifted its position in ConocoPhillips by 46.0% during 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 during the period. Finally, TD Asset Management Inc grew its stake in shares of ConocoPhillips by 34.7% in the 1st quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock valued at $351,602,000 after purchasing an additional 712,062 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on COP. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Mizuho reduced their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wolfe Research started coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Barclays reduced their price objective on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Scotiabank dropped their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.94.

ConocoPhillips Stock Up 0.2 %

COP stock opened at $104.56 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The company’s 50 day simple moving average is $108.47 and its 200-day simple moving average is $113.82. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The firm has a market capitalization of $122.29 billion, a PE ratio of 11.84, a P/E/G ratio of 0.84 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter last year, the business posted $1.84 earnings per share. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. Equities analysts expect that ConocoPhillips will post 7.95 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

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.