ConocoPhillips (NYSE:COP) Stock Position Decreased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 85.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,021 shares of the energy producer’s stock after selling 111,271 shares during the period. Los Angeles Capital Management LLC’s holdings in ConocoPhillips were worth $2,003,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of COP. Vicus Capital lifted its stake in ConocoPhillips by 3.7% during the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock valued at $302,000 after buying an additional 94 shares in the last quarter. Montag A & Associates Inc. lifted its position in shares of ConocoPhillips by 2.5% in the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after acquiring an additional 96 shares in the last quarter. Excalibur Management Corp lifted its position in shares of ConocoPhillips by 2.4% in the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after acquiring an additional 96 shares in the last quarter. First Hawaiian Bank boosted its stake in ConocoPhillips by 0.3% in the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after purchasing an additional 97 shares during the period. Finally, Bank OZK grew its position in ConocoPhillips by 1.6% during the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock worth $715,000 after purchasing an additional 97 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Mizuho raised their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Barclays increased their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $111.82 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $107.71 and a 200-day simple moving average of $111.90. The stock has a market capitalization of $128.69 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 0.90 and a beta of 1.21. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.

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.