SYM FINANCIAL Corp Trims Position in ConocoPhillips $COP

SYM FINANCIAL Corp cut its stake in shares of ConocoPhillips (NYSE:COP) by 53.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,694 shares of the energy producer’s stock after selling 3,085 shares during the quarter. SYM FINANCIAL Corp’s holdings in ConocoPhillips were worth $242,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COP. Aberdeen Group plc increased its holdings in ConocoPhillips by 49.3% during the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after purchasing an additional 264,726 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in ConocoPhillips by 17.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after purchasing an additional 22,827 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of ConocoPhillips by 2.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock valued at $304,716,000 after buying an additional 78,642 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in shares of ConocoPhillips by 17.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock valued at $3,924,000 after buying an additional 5,627 shares during the period. Finally, Lynx Investment Advisory increased its stake in shares of ConocoPhillips by 316.6% during the first quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer’s stock valued at $1,131,000 after buying an additional 8,184 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 2.1%

Shares of COP stock opened at $86.86 on Wednesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The stock’s fifty day moving average price is $93.08 and its 200 day moving average price is $91.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market cap of $108.49 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 2.37 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm 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 firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.98 EPS. On average, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued 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 3.6%. ConocoPhillips’s dividend payout ratio is 41.88%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COP. Susquehanna cut their price target on ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. Raymond James Financial cut their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. UBS Group cut their price objective on shares of ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a report on Monday, October 13th. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Finally, Melius Research assumed coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.63.

About ConocoPhillips

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.