Leavell Investment Management Inc. Sells 2,109 Shares of ConocoPhillips (NYSE:COP)

Leavell Investment Management Inc. cut its holdings in shares of ConocoPhillips (NYSE:COP) by 15.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,992 shares of the energy producer’s stock after selling 2,109 shares during the period. Leavell Investment Management Inc.’s holdings in ConocoPhillips were worth $1,263,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of COP. Price T Rowe Associates Inc. MD raised its holdings in ConocoPhillips by 35.8% during the first 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 acquiring an additional 8,479,963 shares in the last quarter. Capital International Investors raised its stake 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 purchasing an additional 1,856,085 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of ConocoPhillips by 10,634.2% in 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 buying an additional 1,194,434 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of ConocoPhillips by 46.0% in the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock valued at $409,833,000 after buying an additional 1,015,158 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in ConocoPhillips by 34.7% during the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after buying an additional 712,062 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.0 %

Shares of NYSE:COP opened at $111.59 on Friday. The business’s 50 day simple moving average is $107.73 and its 200 day simple moving average is $112.40. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market capitalization of $128.43 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.93 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 EPS. On average, research analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 27.59%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’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 completion of the transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. BMO Capital Markets increased their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Mizuho boosted their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $137.47.

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.