Birmingham Capital Management Co. Inc. AL Sells 1,427 Shares of ConocoPhillips $COP

Birmingham Capital Management Co. Inc. AL lowered its position in shares of ConocoPhillips (NYSE:COP) by 26.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,882 shares of the energy producer’s stock after selling 1,427 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in ConocoPhillips were worth $348,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Cidel Asset Management Inc. grew its position in shares of ConocoPhillips by 2.2% in the 2nd quarter. Cidel Asset Management Inc. now owns 156,247 shares of the energy producer’s stock valued at $14,022,000 after buying an additional 3,431 shares during the last quarter. Forvis Mazars Wealth Advisors LLC grew its position in shares of ConocoPhillips by 2.3% in the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 47,358 shares of the energy producer’s stock valued at $4,250,000 after buying an additional 1,054 shares during the last quarter. Crux Wealth Advisors grew its position in shares of ConocoPhillips by 59.7% in the 2nd quarter. Crux Wealth Advisors now owns 11,830 shares of the energy producer’s stock valued at $1,062,000 after buying an additional 4,423 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $4,011,000. Finally, Signature Estate & Investment Advisors LLC grew its position in shares of ConocoPhillips by 9.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 3,696 shares of the energy producer’s stock valued at $332,000 after buying an additional 330 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.4%

COP stock opened at $86.53 on Monday. The stock’s 50 day simple moving average is $94.04 and its 200 day simple moving average is $91.91. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. 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 company has a market cap of $108.07 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 2.29 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the prior year, the business earned $1.98 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is 41.88%.

Wall Street Analyst Weigh In

COP has been the topic of a number of analyst reports. Raymond James Financial reduced their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Roth Capital reduced their price target on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. The Goldman Sachs Group reduced their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday. Evercore ISI reduced their price target on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their target price on ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

ConocoPhillips Company 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.