Hudson Valley Investment Advisors Inc. ADV Trims Stock Position in ConocoPhillips $COP

Hudson Valley Investment Advisors Inc. ADV lessened its position in shares of ConocoPhillips (NYSE:COP) by 8.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,466 shares of the energy producer’s stock after selling 1,271 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in ConocoPhillips were worth $1,298,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in COP. 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. Nuveen LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at approximately $658,981,000. AQR Capital Management LLC raised its position in shares of ConocoPhillips by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after buying an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. raised its position in shares of ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after buying an additional 2,080,625 shares during the period. Finally, Deutsche Bank AG raised its position in shares of ConocoPhillips by 53.8% during the 1st quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock valued at $550,334,000 after buying an additional 1,834,118 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Scotiabank lifted their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Citigroup dropped their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Raymond James Financial dropped their target price 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. Royal Bank Of Canada dropped their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, July 11th. Finally, Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $120.14.

ConocoPhillips Stock Performance

NYSE:COP opened at $94.17 on Friday. The company has a fifty day simple moving average of $94.92 and a two-hundred day simple moving average of $92.91. The company has a market cap of $117.61 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08.

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

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. ConocoPhillips’s payout ratio is 41.88%.

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.