ConocoPhillips $COP Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 2.0% during the second quarter, Holdings Channel.com reports. The firm owned 17,645 shares of the energy producer’s stock after selling 362 shares during the quarter. Carnegie Investment Counsel’s holdings in ConocoPhillips were worth $1,583,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of COP. Bogart Wealth LLC boosted its stake in ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares in the last quarter. Activest Wealth Management boosted its stake in ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC boosted its stake in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new position in ConocoPhillips during the first quarter valued at about $31,000. Finally, IMA Advisory Services Inc. bought a new position in ConocoPhillips during the first quarter valued at about $37,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on COP shares. Scotiabank raised their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. The Goldman Sachs Group decreased 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. Roth Capital decreased their price target on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Jefferies Financial Group decreased their price target on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, BMO Capital Markets increased their price target on ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Trading Down 2.3%

NYSE:COP opened at $88.01 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The firm has a market capitalization of $109.92 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 2.35 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. The stock has a fifty day simple moving average of $93.32 and a 200 day simple moving average of $91.98.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping 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 firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period last year, the company posted $1.98 EPS. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

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.