Fidelis Capital Partners LLC Trims Stake in ConocoPhillips $COP

Fidelis Capital Partners LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 49.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,954 shares of the energy producer’s stock after selling 16,641 shares during the period. Fidelis Capital Partners LLC’s holdings in ConocoPhillips were worth $1,579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. Bogart Wealth LLC lifted its stake in ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management raised its holdings in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $31,000. Finally, IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips during the first quarter valued at approximately $37,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $86.82 on Monday. The company has a 50 day moving average price of $91.58 and a 200 day moving average price of $92.01. The firm has a market capitalization of $108.43 billion, a P/E ratio of 11.65, a PEG ratio of 2.36 and a beta of 0.58. 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 has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same quarter in the prior year, the business posted $1.78 EPS. ConocoPhillips’s revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.9%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is presently 47.52%.

Analysts Set New Price Targets

A number of analysts have weighed in on COP shares. Mizuho lowered their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. The Goldman Sachs Group reduced their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Jefferies Financial Group dropped their price objective on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Susquehanna reduced 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.54.

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.