NorthCrest Asset Manangement LLC Cuts Stock Holdings in ConocoPhillips $COP

NorthCrest Asset Manangement LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 3.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 51,965 shares of the energy producer’s stock after selling 2,086 shares during the period. NorthCrest Asset Manangement LLC’s holdings in ConocoPhillips were worth $4,868,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in COP. Woodline Partners LP purchased a new position in ConocoPhillips during the 4th quarter valued at about $7,704,000. Waverly Advisors LLC increased its position in ConocoPhillips by 293.6% during the 4th quarter. Waverly Advisors LLC now owns 38,420 shares of the energy producer’s stock valued at $3,810,000 after purchasing an additional 28,660 shares during the period. First Heartland Consultants Inc. purchased a new position in ConocoPhillips during the 4th quarter valued at about $236,000. Focus Partners Advisor Solutions LLC boosted its holdings in shares of ConocoPhillips by 48.0% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 35,523 shares of the energy producer’s stock valued at $3,523,000 after buying an additional 11,516 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of ConocoPhillips by 28.5% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 249,691 shares of the energy producer’s stock valued at $24,762,000 after buying an additional 55,421 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP opened at $93.50 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. 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 firm has a market capitalization of $116.78 billion, a PE ratio of 12.55, a P/E/G ratio of 2.47 and a beta of 0.69. The firm has a 50 day moving average of $94.66 and a two-hundred day moving average of $92.90.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (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 company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period last year, the firm posted $1.98 EPS. ConocoPhillips’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Analyst Ratings Changes

A number of research firms have recently weighed in on COP. UBS Group raised their price target on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Roth Capital restated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Scotiabank raised their price target 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. Wall Street Zen cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.62.

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.