Louisbourg Investments Inc. Sells 6,030 Shares of ConocoPhillips $COP

Louisbourg Investments Inc. lessened its position in ConocoPhillips (NYSE:COP) by 12.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,113 shares of the energy producer’s stock after selling 6,030 shares during the quarter. Louisbourg Investments Inc.’s holdings in ConocoPhillips were worth $5,823,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of COP. AXA S.A. grew its holdings in shares of ConocoPhillips by 91.1% in the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after purchasing an additional 40,499 shares during the last quarter. Sei Investments Co. raised its stake in ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after buying an additional 44,852 shares in the last quarter. BNP Paribas purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth $33,000. Osterweis Capital Management Inc. purchased a new position in ConocoPhillips in the second quarter valued at about $151,000. Finally, Main Street Financial Solutions LLC grew its position in shares of ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after buying an additional 1,675 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.7%

Shares of COP opened at $105.63 on Friday. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The stock has a market capitalization of $128.69 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.17 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a 50 day moving average price of $117.29 and a 200 day moving average price of $111.81.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the sale, the chief executive officer owned 350,000 shares in the company, valued at $46,448,500. The trade was a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. BMO Capital Markets reduced their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reissued a “hold (c)” rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research report on Monday, June 22nd. Finally, Roth Mkm upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $134.04.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.