Highland Capital Management LLC Decreases Stake in ConocoPhillips $COP

Highland Capital Management LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,846 shares of the energy producer’s stock after selling 166 shares during the quarter. Highland Capital Management LLC’s holdings in ConocoPhillips were worth $10,486,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC increased its holdings in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips during the first quarter worth approximately $31,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. acquired a new position in ConocoPhillips in the 1st quarter valued at $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after purchasing an additional 293 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on COP. Melius began coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Capital One Financial increased their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday. Susquehanna decreased their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. BMO Capital Markets upped their price target on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Melius Research began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.77.

ConocoPhillips Stock Performance

Shares of COP stock opened at $94.17 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a market cap of $117.61 billion, a PE ratio of 12.64, a P/E/G ratio of 2.48 and a beta of 0.62. The company’s fifty day simple moving average is $94.92 and its 200-day simple moving average is $92.85. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the prior year, the company earned $1.98 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

ConocoPhillips 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.