ConocoPhillips $COP Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. cut its stake in shares of ConocoPhillips (NYSE:COP) by 4.0% in the second quarter, HoldingsChannel.com reports. The fund owned 4,347 shares of the energy producer’s stock after selling 180 shares during the period. Baxter Bros Inc.’s holdings in ConocoPhillips were worth $390,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC raised its position in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at about $31,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at about $35,000. IMA Advisory Services Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in shares of ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after buying an additional 293 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COP. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Mizuho cut their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Scotiabank increased their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.23.

ConocoPhillips Trading Down 1.5%

NYSE COP opened at $93.76 on Thursday. The firm has a 50 day simple moving average of $94.77 and a 200-day simple moving average of $92.76. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The firm has a market cap of $117.10 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.53 and a beta of 0.62.

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

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

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.