ConocoPhillips $COP Shares Sold by Burney Co.

Burney Co. lowered its position in shares of ConocoPhillips (NYSE:COP) by 3.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,272 shares of the energy producer’s stock after selling 1,506 shares during the period. Burney Co.’s holdings in ConocoPhillips were worth $3,435,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in COP. Aberdeen Group plc increased its stake in ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after purchasing an additional 264,726 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in ConocoPhillips by 17.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after purchasing an additional 22,827 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in ConocoPhillips by 2.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock valued at $304,716,000 after purchasing an additional 78,642 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in ConocoPhillips by 17.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock valued at $3,924,000 after purchasing an additional 5,627 shares during the last quarter. Finally, Lynx Investment Advisory increased its stake in ConocoPhillips by 316.6% during the first quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer’s stock valued at $1,131,000 after purchasing an additional 8,184 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent research reports. Evercore ISI lowered their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target for the company. UBS Group reduced their price target on shares of ConocoPhillips from $115.00 to $98.00 in a report on Tuesday, October 28th. Wall Street Zen downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Finally, Barclays reduced their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $114.63.

ConocoPhillips Stock Performance

COP stock opened at $88.54 on Tuesday. The company has a market capitalization of $110.58 billion, a P/E ratio of 11.88, a PEG ratio of 2.36 and a beta of 0.62. The company has a 50-day simple moving average of $92.47 and a 200 day simple moving average of $92.07. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Dividend Announcement

The business also recently disclosed 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 3.5%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

ConocoPhillips 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.