ConocoPhillips $COP Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC decreased its stake in ConocoPhillips (NYSE:COP) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,140 shares of the energy producer’s stock after selling 2,145 shares during the period. Carret Asset Management LLC’s holdings in ConocoPhillips were worth $2,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Tritonpoint Wealth LLC lifted its stake in shares of ConocoPhillips by 1.3% in the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after purchasing an additional 110 shares during the period. Iowa State Bank raised its position in ConocoPhillips by 0.5% during the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after acquiring an additional 110 shares during the last quarter. First National Bank Sioux Falls raised its position in ConocoPhillips by 4.6% during the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after acquiring an additional 113 shares during the last quarter. KLCM Advisors Inc. raised its position in ConocoPhillips by 2.6% during the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after acquiring an additional 115 shares during the last quarter. Finally, Fairvoy Private Wealth LLC raised its position in ConocoPhillips by 3.5% during the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after acquiring an additional 117 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.3%

NYSE COP opened at $87.96 on Thursday. The company’s fifty day simple moving average is $92.94 and its 200-day simple moving average is $92.00. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a market cap of $109.86 billion, a P/E ratio of 11.81, a PEG ratio of 2.32 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the previous year, the company 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 predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared 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 currently 41.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COP. Mizuho cut their target price 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. Susquehanna lowered their target price on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a report on Monday, October 20th. Wells Fargo & Company assumed coverage on shares of ConocoPhillips in a report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price for the company. Melius assumed coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Finally, Scotiabank boosted their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.63.

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.