Argent Capital Management LLC cut its holdings in ConocoPhillips (NYSE:COP) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,122,685 shares of the energy producer’s stock after selling 82,239 shares during the quarter. ConocoPhillips comprises approximately 2.6% of Argent Capital Management LLC’s holdings, making the stock its 11th largest position. Argent Capital Management LLC’s holdings in ConocoPhillips were worth $68,484,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Smart Money Group LLC raised its stake in ConocoPhillips by 2.6% during the 2nd quarter. Smart Money Group LLC now owns 6,918 shares of the energy producer’s stock valued at $422,000 after purchasing an additional 177 shares during the last quarter. Full Sail Capital LLC increased its holdings in ConocoPhillips by 4.6% in the 1st quarter. Full Sail Capital LLC now owns 4,031 shares of the energy producer’s stock valued at $269,000 after buying an additional 179 shares during the period. Linscomb & Williams Inc. grew its holdings in shares of ConocoPhillips by 1.3% in the 1st quarter. Linscomb & Williams Inc. now owns 13,680 shares of the energy producer’s stock worth $913,000 after purchasing an additional 182 shares during the last quarter. Liberty Capital Management Inc. grew its holdings in shares of ConocoPhillips by 2.0% in the 2nd quarter. Liberty Capital Management Inc. now owns 9,500 shares of the energy producer’s stock worth $580,000 after purchasing an additional 188 shares during the last quarter. Finally, BKD Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 0.3% in the 2nd quarter. BKD Wealth Advisors LLC now owns 68,910 shares of the energy producer’s stock worth $4,204,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 71.41% of the company’s stock.
ConocoPhillips stock traded up $0.85 during trading hours on Friday, reaching $60.82. 14,542,103 shares of the company’s stock traded hands, compared to its average volume of 6,849,271. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 1.76. ConocoPhillips has a fifty-two week low of $50.13 and a fifty-two week high of $80.24. The firm has a market capitalization of $66.58 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.64 and a beta of 1.04. The firm’s 50 day moving average is $54.27 and its 200-day moving average is $60.63.
ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $9.42 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. Analysts predict that ConocoPhillips will post 3.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd were given a dividend of $0.305 per share. The ex-dividend date was Friday, July 19th. This represents a $1.22 dividend on an annualized basis and a yield of 2.01%. ConocoPhillips’s payout ratio is presently 26.93%.
A number of brokerages have commented on COP. Zacks Investment Research raised shares of ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price objective on the stock in a report on Thursday, July 11th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $74.00 to $80.00 in a report on Wednesday, June 26th. UBS Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $75.00 in a report on Monday, September 16th. Morgan Stanley decreased their price objective on shares of ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $75.69.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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