Delaney Dennis R Trims Holdings in ConocoPhillips (NYSE:COP)

Delaney Dennis R decreased its position in ConocoPhillips (NYSE:COP) by 30.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,462 shares of the energy producer’s stock after selling 1,998 shares during the period. Delaney Dennis R’s holdings in ConocoPhillips were worth $510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. XTX Topco Ltd raised its position in shares of ConocoPhillips by 168.3% in the 2nd quarter. XTX Topco Ltd now owns 12,638 shares of the energy producer’s stock valued at $1,446,000 after purchasing an additional 7,928 shares during the last quarter. MRP Capital Investments LLC raised its stake in shares of ConocoPhillips by 4.3% during the 2nd quarter. MRP Capital Investments LLC now owns 2,430 shares of the energy producer’s stock valued at $278,000 after buying an additional 100 shares during the last quarter. Garner Asset Management Corp boosted its position in ConocoPhillips by 25.1% in the 2nd quarter. Garner Asset Management Corp now owns 17,710 shares of the energy producer’s stock worth $2,026,000 after purchasing an additional 3,548 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of ConocoPhillips by 1.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 94,558 shares of the energy producer’s stock valued at $10,794,000 after purchasing an additional 1,077 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in ConocoPhillips by 7.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 43,036 shares of the energy producer’s stock valued at $4,922,000 after purchasing an additional 3,013 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $108.64 on Thursday. 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 stock has a market capitalization of $126.16 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22. The firm has a 50 day moving average of $109.89 and a 200-day moving average of $116.59. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the company earned $1.84 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.14%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Analysts Set New Price Targets

Several research analysts have recently commented on COP shares. Mizuho reduced their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday. Scotiabank dropped their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. UBS Group cut their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Raymond James restated 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. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.29.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is 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.