Holocene Advisors LP Trims Stock Position in ConocoPhillips $COP

Holocene Advisors LP decreased its position in ConocoPhillips (NYSE:COP) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,807,361 shares of the energy producer’s stock after selling 143,778 shares during the period. Holocene Advisors LP owned 0.14% of ConocoPhillips worth $162,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Howard Hughes Medical Institute purchased a new position in ConocoPhillips in the second quarter worth approximately $25,000. Bogart Wealth LLC lifted its holdings in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares during the last quarter. Activest Wealth Management boosted its position in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after purchasing an additional 232 shares during the period. Financial Network Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the period. Finally, BNP Paribas acquired a new stake in ConocoPhillips in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on COP shares. Wolfe Research restated an “outperform” rating and set a $131.00 price target on shares of ConocoPhillips in a research note on Thursday, November 6th. The Goldman Sachs Group lowered their target price on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a research report on Monday. Melius initiated coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Finally, UBS Group lifted their price objective on shares of ConocoPhillips from $117.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $114.54.

Insider Activity

In other ConocoPhillips news, Director William H. Mcraven acquired 5,768 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director owned 5,768 shares in the company, valued at $499,970.24. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $95.58 on Friday. The business has a 50-day simple moving average of $89.57 and a 200-day simple moving average of $92.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. ConocoPhillips has a one year low of $79.88 and a one year high of $106.20. The company has a market cap of $118.11 billion, a PE ratio of 13.52, a P/E/G ratio of 2.19 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a dividend of $0.84 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) 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.