Benjamin Edwards Inc. Sells 1,836 Shares of ConocoPhillips (NYSE:COP)

Benjamin Edwards Inc. reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 28.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,529 shares of the energy producer’s stock after selling 1,836 shares during the quarter. Benjamin Edwards Inc.’s holdings in ConocoPhillips were worth $518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Valued Wealth Advisors LLC boosted its holdings in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. boosted its stake in shares of ConocoPhillips by 4.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after buying an additional 85 shares during the last quarter. Manchester Capital Management LLC boosted its stake in shares of ConocoPhillips by 22.1% during the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after buying an additional 86 shares during the last quarter. Adirondack Trust Co. grew its holdings in shares of ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after acquiring an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC increased its position in shares of ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after acquiring an additional 90 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.4 %

Shares of COP stock opened at $110.08 on Friday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a market capitalization of $127.83 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. The firm has a 50 day moving average price of $109.76 and a two-hundred day moving average price of $116.53. 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 (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 business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the firm posted $1.84 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, analysts predict that ConocoPhillips will post 8.41 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. Stockholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. ConocoPhillips’s payout ratio is presently 26.27%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips 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 completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on COP. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Wells Fargo & Company decreased 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. Mizuho dropped their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Raymond James reiterated a “strong-buy” rating and issued a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, UBS Group lowered their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday. Five investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.29.

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.