Profund Advisors LLC Sells 25,057 Shares of ConocoPhillips (NYSE:COP)

Profund Advisors LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 43.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,946 shares of the energy producer’s stock after selling 25,057 shares during the period. Profund Advisors LLC’s holdings in ConocoPhillips were worth $3,768,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Cardinal Capital Management Inc. bought a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $13,468,000. Harbor Investment Advisory LLC grew its stake in shares of ConocoPhillips by 2.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after buying an additional 212 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of ConocoPhillips by 5.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after buying an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of ConocoPhillips in the 2nd quarter worth about $30,021,000. Finally, EP Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 19.1% in the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after acquiring an additional 4,578 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.6 %

Shares of NYSE COP opened at $109.87 on Friday. The stock has a 50 day moving average price of $109.76 and a 200 day moving average price of $116.57. The firm has a market capitalization of $127.59 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.80 and a beta of 1.22. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last issued its 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. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 EPS. Sell-side analysts expect 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. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on COP shares. Wolfe Research started coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Mizuho cut their target price on 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 restated a “strong-buy” rating and issued a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. UBS Group dropped their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $142.29.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of the 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 directly owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

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.