ConocoPhillips (NYSE:COP) Stock Position Trimmed by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in ConocoPhillips (NYSE:COP) by 15.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,962 shares of the energy producer’s stock after selling 16,890 shares during the quarter. Intech Investment Management LLC’s holdings in ConocoPhillips were worth $9,998,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter valued at $26,000. Stephens Consulting LLC increased its stake in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the period. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $35,000. Finally, Fairway Wealth LLC boosted its holdings in shares of ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after acquiring an additional 153 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.5 %

NYSE:COP opened at $111.71 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The business’s fifty day moving average price is $108.74 and its 200 day moving average price is $111.48. The firm has a market capitalization of $128.57 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.92 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a $0.78 dividend. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COP shares. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Barclays lifted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. UBS Group cut their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Company 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.