ConocoPhillips (NYSE:COP) Stock Position Cut by Custom Portfolio Group LLC

Custom Portfolio Group LLC decreased its stake in shares of ConocoPhillips (NYSE:COP) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,004 shares of the energy producer’s stock after selling 200 shares during the period. ConocoPhillips makes up 0.9% of Custom Portfolio Group LLC’s portfolio, making the stock its 16th biggest position. Custom Portfolio Group LLC’s holdings in ConocoPhillips were worth $1,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of COP. Eagle Asset Management Inc. boosted its stake in ConocoPhillips by 0.7% during the fourth quarter. Eagle Asset Management Inc. now owns 30,912 shares of the energy producer’s stock valued at $3,588,000 after buying an additional 208 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in ConocoPhillips by 4.4% in the 4th quarter. Jones Financial Companies Lllp now owns 8,170 shares of the energy producer’s stock valued at $948,000 after acquiring an additional 348 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of ConocoPhillips by 2.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,215,678 shares of the energy producer’s stock valued at $257,176,000 after purchasing an additional 43,485 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of ConocoPhillips by 24.2% in the 4th quarter. CWA Asset Management Group LLC now owns 2,638 shares of the energy producer’s stock worth $306,000 after purchasing an additional 514 shares during the last quarter. Finally, NEOS Investment Management LLC grew its stake in shares of ConocoPhillips by 33.2% in the 4th quarter. NEOS Investment Management LLC now owns 16,912 shares of the energy producer’s stock worth $1,963,000 after purchasing an additional 4,212 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP stock opened at $105.28 on Tuesday. The stock has a market cap of $123.13 billion, a P/E ratio of 11.92, a P/E/G ratio of 0.85 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The firm has a 50 day simple moving average of $108.71 and a 200 day simple moving average of $116.20. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the previous year, the company posted $1.84 EPS. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. Research analysts anticipate that ConocoPhillips will post 8.14 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.20%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COP. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Wells Fargo & Company dropped their price target on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Susquehanna reduced their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Bank of America reiterated a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.82.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.34% of the company’s stock.

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.