Agate Pass Investment Management LLC Sells 107 Shares of ConocoPhillips (NYSE:COP)

Agate Pass Investment Management LLC lessened its stake in ConocoPhillips (NYSE:COPFree Report) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,083 shares of the energy producer’s stock after selling 107 shares during the period. Agate Pass Investment Management LLC’s holdings in ConocoPhillips were worth $535,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after purchasing an additional 8,479,963 shares in the last quarter. Capital International Investors grew its position in shares of ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after buying an additional 1,856,085 shares in the last quarter. Legal & General Group Plc increased its stake in shares of ConocoPhillips by 4.6% during the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after buying an additional 438,241 shares during the period. Fisher Asset Management LLC raised its holdings in shares of ConocoPhillips by 2.7% in the fourth quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock valued at $860,398,000 after acquiring an additional 191,519 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in ConocoPhillips by 2.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock worth $653,065,000 after acquiring an additional 109,885 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other ConocoPhillips 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 completion of the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

Shares of COP opened at $111.86 on Friday. 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 stock has a 50-day moving average of $108.89 and a two-hundred day moving average of $115.76. The stock has a market cap of $129.90 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.88 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COPGet Free Report) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping 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 company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the company earned $1.84 EPS. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts predict that ConocoPhillips will post 8.02 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.07%. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.86%.

Analysts Set New Price Targets

A number of research analysts have commented on COP shares. Sanford C. Bernstein cut their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Wolfe Research initiated coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Bank of America reissued a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.00.

Read Our Latest Report on ConocoPhillips

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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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