Focus Partners Advisor Solutions LLC Sells 12,888 Shares of ConocoPhillips $COP

Focus Partners Advisor Solutions LLC reduced its stake in ConocoPhillips (NYSE:COP) by 25.6% during the second quarter, Holdings Channel.com reports. The fund owned 37,426 shares of the energy producer’s stock after selling 12,888 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in ConocoPhillips were worth $3,359,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Peterson Wealth Services lifted its position in shares of ConocoPhillips by 2.1% in the 2nd quarter. Peterson Wealth Services now owns 61,457 shares of the energy producer’s stock worth $5,515,000 after purchasing an additional 1,268 shares during the period. CNB Bank lifted its position in shares of ConocoPhillips by 2.5% in the 2nd quarter. CNB Bank now owns 9,813 shares of the energy producer’s stock worth $881,000 after purchasing an additional 236 shares during the period. PKO Investment Management Joint Stock Co lifted its position in shares of ConocoPhillips by 8.6% in the 2nd quarter. PKO Investment Management Joint Stock Co now owns 37,819 shares of the energy producer’s stock worth $3,394,000 after purchasing an additional 3,000 shares during the period. Sage Mountain Advisors LLC lifted its position in shares of ConocoPhillips by 3.8% in the 2nd quarter. Sage Mountain Advisors LLC now owns 9,525 shares of the energy producer’s stock worth $855,000 after purchasing an additional 353 shares during the period. Finally, Washington Trust Advisors Inc. lifted its position in shares of ConocoPhillips by 38.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 962 shares of the energy producer’s stock worth $86,000 after purchasing an additional 265 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COP has been the subject of several research reports. Royal Bank Of Canada upped their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Wolfe Research decreased their target price on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Capital One Financial increased their target price on shares of ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Melius Research assumed coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price for the company. Finally, Scotiabank increased their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Trading Down 2.3%

Shares of ConocoPhillips stock opened at $88.01 on Friday. 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. The firm has a market capitalization of $109.92 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.35 and a beta of 0.62. The firm’s 50 day simple moving average is $93.32 and its two-hundred day simple moving average is $91.98.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results 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 net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the business posted $1.98 EPS. ConocoPhillips’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 3.5%. ConocoPhillips’s dividend payout ratio 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.