Guinness Asset Management LTD Has $11.72 Million Position in ConocoPhillips $COP

Guinness Asset Management LTD cut its stake in shares of ConocoPhillips (NYSE:COP) by 19.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 112,326 shares of the energy producer’s stock after selling 27,348 shares during the quarter. Guinness Asset Management LTD’s holdings in ConocoPhillips were worth $11,718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Second Line Capital LLC lifted its holdings in ConocoPhillips by 2.2% during the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer’s stock worth $495,000 after buying an additional 108 shares during the period. KLCM Advisors Inc. lifted its holdings in ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after buying an additional 115 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock worth $334,000 after buying an additional 118 shares during the period. Piscataqua Savings Bank lifted its holdings in ConocoPhillips by 3.5% during the 1st quarter. Piscataqua Savings Bank now owns 3,705 shares of the energy producer’s stock worth $389,000 after buying an additional 125 shares during the period. Finally, Citizens National Bank Trust Department lifted its holdings in ConocoPhillips by 6.1% during the 1st quarter. Citizens National Bank Trust Department now owns 2,176 shares of the energy producer’s stock worth $229,000 after buying an additional 126 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson bought 5,300 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president directly owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Melius assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Morgan Stanley reissued an “overweight” rating and issued a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Scotiabank boosted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Finally, Melius Research assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $120.86.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $94.13 on Friday. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The firm has a market capitalization of $117.56 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.48 and a beta of 0.69. The business has a 50-day simple moving average of $94.78 and a 200 day simple moving average of $93.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the company posted $1.98 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

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.