Lmcg Investments LLC Cuts Position in ConocoPhillips $COP

Lmcg Investments LLC lessened its stake in ConocoPhillips (NYSE:COP) by 4.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,354 shares of the energy producer’s stock after selling 3,836 shares during the quarter. Lmcg Investments LLC’s holdings in ConocoPhillips were worth $7,301,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Financial Network Wealth Advisors LLC increased its holdings in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at about $31,000. Garde Capital Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter valued at about $35,000. IMA Advisory Services Inc. acquired a new stake in ConocoPhillips in the 1st quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in ConocoPhillips by 418.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after acquiring an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $87.83 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The stock has a market capitalization of $109.70 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.44 and a beta of 0.62. The firm’s 50-day moving average is $94.60 and its two-hundred day moving average is $92.59. 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 released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period last year, the company earned $1.98 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share 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 given a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on COP shares. Raymond James Financial lowered their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Royal Bank Of Canada lowered their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $117.23.

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.