ConocoPhillips $COP Shares Sold by Burford Brothers Inc.

Burford Brothers Inc. reduced its position in ConocoPhillips (NYSE:COP) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,550 shares of the energy producer’s stock after selling 124 shares during the period. Burford Brothers Inc.’s holdings in ConocoPhillips were worth $408,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Schwartz Investment Counsel Inc. raised its holdings in shares of ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock valued at $5,125,000 after buying an additional 30,000 shares during the period. Aberdeen Group plc raised its holdings in shares of ConocoPhillips by 49.3% during the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after buying an additional 264,726 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of ConocoPhillips by 17.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after buying an additional 22,827 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in shares of ConocoPhillips by 17.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock valued at $3,924,000 after buying an additional 5,627 shares during the period. Finally, Lynx Investment Advisory raised its holdings in shares of ConocoPhillips by 316.6% during the 1st quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer’s stock valued at $1,131,000 after buying an additional 8,184 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Melius Research assumed coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Roth Capital dropped their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank Of Canada lifted their price objective on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Capital One Financial lifted their price objective on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Finally, The Goldman Sachs Group dropped their price objective on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $86.53 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. 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 capitalization of $108.07 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 2.32 and a beta of 0.62. The business has a 50 day simple moving average of $94.04 and a 200-day simple moving average of $91.93.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) 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 business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. 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 payout ratio is currently 41.88%.

ConocoPhillips Company 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.