Xponance Inc. Sells 4,320 Shares of ConocoPhillips (NYSE:COP)

Xponance Inc. trimmed its holdings in ConocoPhillips (NYSE:COP) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 156,094 shares of the energy producer’s stock after selling 4,320 shares during the quarter. Xponance Inc.’s holdings in ConocoPhillips were worth $17,854,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in ConocoPhillips by 1.5% in the 2nd quarter. Bank of Montreal Can now owns 2,122,547 shares of the energy producer’s stock worth $244,178,000 after buying an additional 31,328 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of ConocoPhillips by 1.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 19,341 shares of the energy producer’s stock valued at $2,212,000 after purchasing an additional 287 shares during the period. Public Sector Pension Investment Board grew its stake in shares of ConocoPhillips by 4.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 203,481 shares of the energy producer’s stock valued at $23,274,000 after purchasing an additional 7,848 shares during the period. DRW Securities LLC grew its stake in shares of ConocoPhillips by 1,565.5% during the 2nd quarter. DRW Securities LLC now owns 43,486 shares of the energy producer’s stock valued at $4,974,000 after purchasing an additional 40,875 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 7.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 62,470 shares of the energy producer’s stock valued at $6,947,000 after purchasing an additional 4,266 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on COP. Scotiabank cut their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Barclays boosted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Mizuho cut their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Susquehanna cut their price objective on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, 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 for the company. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.29.

ConocoPhillips Stock Down 0.6 %

Shares of COP opened at $109.87 on Monday. The stock has a market capitalization of $127.59 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The business’s 50 day simple moving average is $109.76 and its 200-day simple moving average is $116.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

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, beating 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 company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the prior year, the firm posted $1.84 EPS. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities 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. Investors of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.11%. ConocoPhillips’s payout ratio is presently 26.27%.

Insider Activity at ConocoPhillips

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

ConocoPhillips 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.