Wrapmanager Inc. Lowers Stock Holdings in ConocoPhillips $COP

Wrapmanager Inc. cut its position in ConocoPhillips (NYSE:COP) by 10.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,393 shares of the energy producer’s stock after selling 742 shares during the quarter. Wrapmanager Inc.’s holdings in ConocoPhillips were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in ConocoPhillips by 379.7% in 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 acquiring an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of ConocoPhillips by 1.4% during 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 purchasing an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after purchasing an additional 2,080,625 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of 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 in the last quarter. Finally, Boston Partners increased its stake in ConocoPhillips by 3.8% during the 2nd quarter. Boston Partners now owns 6,411,539 shares of the energy producer’s stock worth $576,332,000 after buying an additional 232,117 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $89.38 on Friday. The company has a market cap of $110.45 billion, a P/E ratio of 12.00, a PEG ratio of 2.36 and a beta of 0.58. The firm has a fifty day moving average price of $90.96 and a 200 day moving average price of $91.94. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The company had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 EPS. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.8%. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven purchased 5,768 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their position. The transaction 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 company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley decreased their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Jefferies Financial Group decreased their target price on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 13th. The Goldman Sachs Group lowered their target price on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, October 17th. JPMorgan Chase & Co. cut their price target on ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Finally, Mizuho decreased their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.33.

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.