ConocoPhillips $COP Position Lowered by Edgar Lomax Co. VA

Edgar Lomax Co. VA trimmed its position in ConocoPhillips (NYSE:COP) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 197,275 shares of the energy producer’s stock after selling 4,010 shares during the period. Edgar Lomax Co. VA’s holdings in ConocoPhillips were worth $17,703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. grew its position in shares of ConocoPhillips by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after acquiring an additional 287,970 shares in the last quarter. Wellington Management Group LLP lifted its stake in ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after purchasing an additional 437,709 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the period. Ameriprise Financial Inc. increased its stake in ConocoPhillips by 15.1% during the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after purchasing an additional 1,073,906 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in ConocoPhillips by 66.0% during the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after purchasing an additional 3,135,315 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of several research reports. Raymond James Financial decreased their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. The Goldman Sachs Group decreased their target price on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, October 17th. JPMorgan Chase & Co. lowered their target price on ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday. Finally, Sanford C. Bernstein boosted their price objective on ConocoPhillips from $115.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday. Nineteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $115.16.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $87.33 on Monday. The firm’s 50 day moving average is $90.47 and its two-hundred day moving average is $91.92. The firm has a market capitalization of $107.92 billion, a P/E ratio of 11.72, a PEG ratio of 2.36 and a beta of 0.58. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $112.73.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 EPS. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.8%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s dividend payout ratio is 47.52%.

Insider Buying and Selling at ConocoPhillips

In related news, Director William H. Mcraven acquired 5,768 shares of ConocoPhillips stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

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.