ConocoPhillips (NYSE:COP) Shares Sold by Accredited Investors Inc.

Accredited Investors Inc. reduced its position in shares of ConocoPhillips (NYSE:COP) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,032 shares of the energy producer’s stock after selling 145 shares during the quarter. Accredited Investors Inc.’s holdings in ConocoPhillips were worth $232,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sachetta LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth about $27,000. Cooksen Wealth LLC purchased a new position in ConocoPhillips in the 4th quarter valued at about $27,000. Cape Investment Advisory Inc. lifted its stake in 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 buying an additional 121 shares in the last quarter. Richardson Capital Management LLC purchased a new position in ConocoPhillips in the 1st quarter valued at about $31,000. Finally, Northwest Bank & Trust Co purchased a new position in ConocoPhillips in the 4th quarter valued at about $32,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on COP. UBS Group increased their price objective on shares of ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Royal Bank of Canada increased their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Barclays raised their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Bank of America restated a “buy” rating and set 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, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $143.65.

Insider Activity

In other 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 transaction of $6,000,105.00. Following the sale, 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 can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 0.5 %

COP stock traded down $0.57 during midday trading on Tuesday, hitting $111.17. The company’s stock had a trading volume of 139,879 shares, compared to its average volume of 5,667,479. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $102.27 and a 52-week high of $135.18. The firm has a market capitalization of $129.10 billion, a P/E ratio of 12.66, a PEG ratio of 2.18 and a beta of 1.24. The firm has a 50-day simple moving average of $111.53 and a 200-day simple moving average of $117.04.

ConocoPhillips (NYSE:COP) last issued 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. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 EPS. As a group, equities analysts forecast that ConocoPhillips will post 8.64 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.09%. ConocoPhillips’s payout ratio is currently 26.27%.

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.