Waters Parkerson & CO. LLC Sells 621 Shares of ConocoPhillips (NYSE:COP)

Waters Parkerson & CO. LLC decreased its position in ConocoPhillips (NYSE:COP) by 22.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,161 shares of the energy producer’s stock after selling 621 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in ConocoPhillips were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cooksen Wealth LLC purchased a new position in ConocoPhillips in the fourth quarter worth about $27,000. Cape Investment Advisory Inc. lifted its stake 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 valued at $29,000 after purchasing an additional 121 shares during the last quarter. Stephens Consulting LLC boosted its holdings in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the period. Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips in the 1st quarter worth approximately $31,000. Finally, Northwest Bank & Trust Co purchased a new stake in ConocoPhillips during the 4th quarter valued at $32,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 0.4 %

Shares of ConocoPhillips stock opened at $110.08 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 stock has a market cap of $127.83 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.80 and a beta of 1.22. The firm’s 50-day moving average is $109.76 and its two-hundred day moving average is $116.53. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last released 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. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate 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 last year, the firm earned $1.84 earnings per share. As a group, research analysts expect that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. Susquehanna dropped their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Wolfe Research initiated coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Barclays boosted their target price on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, Bank of America reiterated a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $142.29.

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.