SCP Investment LP Lowers Holdings in ConocoPhillips $COP

SCP Investment LP reduced its position in ConocoPhillips (NYSE:COP) by 19.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,668 shares of the energy producer’s stock after selling 5,000 shares during the quarter. ConocoPhillips accounts for approximately 1.5% of SCP Investment LP’s investment portfolio, making the stock its 12th largest holding. SCP Investment LP’s holdings in ConocoPhillips were worth $1,855,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Navalign LLC boosted its stake in shares of ConocoPhillips by 1.1% during the second quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after purchasing an additional 108 shares in the last quarter. Tritonpoint Wealth LLC increased its holdings in shares of ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after acquiring an additional 110 shares during the period. Iowa State Bank raised its position in shares of ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after acquiring an additional 110 shares in the last quarter. Perennial Investment Advisors LLC lifted its stake in shares of ConocoPhillips by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock worth $368,000 after purchasing an additional 112 shares during the last quarter. Finally, First National Bank Sioux Falls boosted its position in ConocoPhillips by 4.6% during the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, Director William H. Mcraven acquired 5,768 shares of ConocoPhillips stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the purchase, the director owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Wells Fargo & Company initiated coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Jefferies Financial Group cut their price target on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Finally, Melius started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.16.

ConocoPhillips Stock Up 0.6%

Shares of COP stock opened at $87.18 on Thursday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $108.99. The firm has a market capitalization of $107.73 billion, a PE ratio of 11.70, a P/E/G ratio of 2.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock’s 50-day simple moving average is $90.09 and its 200-day simple moving average is $91.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter in the prior year, the company earned $1.78 EPS. ConocoPhillips’s quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current 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 given a dividend of $0.84 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, November 17th. ConocoPhillips’s payout ratio is presently 47.52%.

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.