Rosenberg Matthew Hamilton Trims Position in ConocoPhillips $COP

Rosenberg Matthew Hamilton cut its holdings in shares of ConocoPhillips (NYSE:COP) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,665 shares of the energy producer’s stock after selling 302 shares during the period. Rosenberg Matthew Hamilton’s holdings in ConocoPhillips were worth $867,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $35,000. IMA Advisory Services Inc. bought a new position in ConocoPhillips in the first quarter worth $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after purchasing an additional 293 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COP shares. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Piper Sandler decreased their price objective on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a report on Monday. Evercore ISI decreased their price objective on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, October 6th. Wells Fargo & Company reiterated an “overweight” rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Finally, Royal Bank Of Canada boosted their target price on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.13.

ConocoPhillips Trading Down 0.7%

ConocoPhillips stock opened at $88.17 on Wednesday. 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 business’s fifty day simple moving average is $94.42 and its two-hundred day simple moving average is $92.32. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a market capitalization of $110.11 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62.

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

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. 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.