ConocoPhillips $COP Shares Sold by Huntleigh Advisors Inc.

by · The Markets Daily

Huntleigh Advisors Inc. lowered its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 51.7% in the second quarter, Holdings Channel.com reports. The fund owned 18,291 shares of the energy producer’s stock after selling 19,580 shares during the quarter. Huntleigh Advisors Inc.’s holdings in ConocoPhillips were worth $1,641,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in COP. Wealth Enhancement Advisory Services LLC increased its holdings in shares of ConocoPhillips by 14.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 269,154 shares of the energy producer’s stock valued at $28,267,000 after purchasing an additional 34,284 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in shares of ConocoPhillips by 59.7% in the first quarter. CWA Asset Management Group LLC now owns 5,587 shares of the energy producer’s stock valued at $587,000 after purchasing an additional 2,089 shares during the last quarter. Silver Oak Securities Incorporated increased its holdings in shares of ConocoPhillips by 28.3% in the first quarter. Silver Oak Securities Incorporated now owns 2,676 shares of the energy producer’s stock valued at $274,000 after purchasing an additional 591 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of ConocoPhillips by 6.8% in the first quarter. Blue Trust Inc. now owns 20,478 shares of the energy producer’s stock valued at $2,151,000 after purchasing an additional 1,303 shares during the last quarter. Finally, Meriwether Wealth & Planning LLC increased its holdings in shares of ConocoPhillips by 14.7% in the first quarter. Meriwether Wealth & Planning LLC now owns 10,406 shares of the energy producer’s stock valued at $1,093,000 after purchasing an additional 1,335 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.4%

ConocoPhillips stock opened at $86.53 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market cap of $108.07 billion, a PE ratio of 11.61, a P/E/G ratio of 2.33 and a beta of 0.62. The stock’s fifty day moving average is $94.04 and its two-hundred day moving average is $92.03.

ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share 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 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 firm earned $1.98 earnings per share. ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts expect that ConocoPhillips will post 8.16 EPS 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 dividend on an annualized basis and a yield of 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Wall Street Analyst Weigh In

COP has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. BMO Capital Markets lifted their target price on ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Susquehanna decreased their target price on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Melius assumed coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Finally, Mizuho decreased their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Read Our Latest Research Report on ConocoPhillips

ConocoPhillips Company Profile

(Free Report)

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.

Further Reading

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