Sapient Capital LLC Sells 5,238 Shares of ConocoPhillips $COP

Sapient Capital LLC lessened its stake in ConocoPhillips (NYSE:COP) by 51.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,965 shares of the energy producer’s stock after selling 5,238 shares during the quarter. Sapient Capital LLC’s holdings in ConocoPhillips were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Patten Group Inc. increased its holdings in ConocoPhillips by 1.5% in the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after acquiring an additional 83 shares during the last quarter. IFC Advisors LLC boosted its holdings in shares of ConocoPhillips by 0.4% during the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after purchasing an additional 84 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of ConocoPhillips by 9.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares during the last quarter. Blue Trust Inc. grew its position in shares of ConocoPhillips by 0.4% during the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after purchasing an additional 92 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of ConocoPhillips by 0.6% in the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.1%

Shares of NYSE:COP opened at $134.23 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $137.42. The company has a 50-day moving average price of $120.15 and a 200 day moving average price of $119.44. The company has a market cap of $161.26 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.43 and a beta of 0.13.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The company had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. During the same quarter last year, the business posted $1.42 earnings per share. The firm’s revenue was up 32.4% on a year-over-year basis. As a group, equities research analysts predict that ConocoPhillips will post 10.55 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a $0.84 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. ConocoPhillips’s payout ratio is 44.44%.

Wall Street Analyst Weigh In

A number of research firms recently commented on COP. Susquehanna boosted their target price on ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Wells Fargo & Company raised their price target on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd. Morgan Stanley upped their price objective on ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Mizuho lowered their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.29.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.