ConocoPhillips (NYSE:COP) Shares Sold by Barnett & Company Inc.

by · The Cerbat Gem

Barnett & Company Inc. cut its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,991 shares of the energy producer’s stock after selling 450 shares during the quarter. ConocoPhillips makes up 1.6% of Barnett & Company Inc.’s investment portfolio, making the stock its 20th largest position. Barnett & Company Inc.’s holdings in ConocoPhillips were worth $2,420,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in shares of ConocoPhillips in the second quarter worth about $30,021,000. EP Wealth Advisors LLC grew its stake in ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after buying an additional 4,578 shares during the last quarter. Alpha DNA Investment Management LLC increased its holdings in shares of ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after acquiring an additional 7,490 shares during the period. TCW Group Inc. raised its holdings in shares of ConocoPhillips by 37.8% during the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after buying an additional 8,231 shares during the last quarter. Finally, Doheny Asset Management CA bought a new stake in ConocoPhillips during the 2nd quarter valued at $815,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COP. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group cut their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Scotiabank reduced their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. BMO Capital Markets raised their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.47.

Get Our Latest Stock Report on COP

ConocoPhillips Stock Down 0.1 %

Shares of NYSE:COP traded down $0.08 during trading on Tuesday, hitting $111.97. The stock had a trading volume of 754,153 shares, compared to its average volume of 5,876,881. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $128.87 billion, a PE ratio of 13.33, a PEG ratio of 0.91 and a beta of 1.21. The firm’s fifty day moving average is $107.69 and its 200 day moving average is $112.04. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

ConocoPhillips Company Profile

(Free Report)

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.

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