ConocoPhillips $COP Shares Sold by Winthrop Capital Management LLC

Winthrop Capital Management LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,044 shares of the energy producer’s stock after selling 711 shares during the period. Winthrop Capital Management LLC’s holdings in ConocoPhillips were worth $542,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after buying an additional 31,736,423 shares during the period. Wellington Management Group LLP grew its position in ConocoPhillips by 1.4% in 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 acquiring an additional 437,709 shares during the period. Goldman Sachs Group Inc. increased its stake in ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. raised its position in ConocoPhillips by 15.1% in 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 period. Finally, Nuveen LLC purchased a new stake in ConocoPhillips in the first quarter valued at $658,981,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $86.82 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market cap of $108.43 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.36 and a beta of 0.58. The stock has a 50-day moving average of $91.58 and a two-hundred day moving average of $92.00. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate 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 net margin of 15.26% and a return on equity of 14.60%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share. As a group, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 annualized dividend and a yield of 3.9%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is 41.88%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research analyst reports. Barclays lowered their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Melius Research initiated coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Raymond James Financial lowered their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Evercore ISI decreased their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Monday, October 6th. Eighteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.54.

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.