Wedge Capital Management L L P NC Sells 4,886 Shares of ConocoPhillips (NYSE:COP)

Wedge Capital Management L L P NC reduced its stake in ConocoPhillips (NYSE:COPGet Rating) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,012 shares of the energy producer’s stock after selling 4,886 shares during the period. Wedge Capital Management L L P NC’s holdings in ConocoPhillips were worth $20,029,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd bought a new stake in ConocoPhillips during the fourth quarter valued at $49,000. Endowment Wealth Management Inc. bought a new stake in ConocoPhillips during the fourth quarter valued at $214,000. Alberta Investment Management Corp boosted its stake in ConocoPhillips by 187.9% during the fourth quarter. Alberta Investment Management Corp now owns 614,769 shares of the energy producer’s stock valued at $44,374,000 after buying an additional 401,269 shares during the period. Accretive Wealth Partners LLC bought a new stake in ConocoPhillips during the fourth quarter valued at $953,000. Finally, FineMark National Bank & Trust boosted its stake in ConocoPhillips by 5.1% during the fourth quarter. FineMark National Bank & Trust now owns 11,917 shares of the energy producer’s stock valued at $860,000 after buying an additional 579 shares during the period. 79.66% of the stock is owned by institutional investors.

ConocoPhillips Stock Down 2.1 %

Shares of NYSE:COP opened at $113.13 on Monday. ConocoPhillips has a 1 year low of $56.30 and a 1 year high of $124.08. The company has a market cap of $146.33 billion, a PE ratio of 9.34, a P/E/G ratio of 0.37 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.54 and a quick ratio of 1.44. The stock’s 50-day moving average is $100.18 and its 200 day moving average is $100.92.

ConocoPhillips (NYSE:COPGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The energy producer reported $3.91 earnings per share for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a net margin of 23.10% and a return on equity of 31.24%. During the same period in the prior year, the firm earned $1.27 EPS. Sell-side analysts anticipate that ConocoPhillips will post 14.68 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a None dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, September 29th. ConocoPhillips’s payout ratio is 15.19%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total transaction of $1,275,894.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on COP shares. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Truist Financial lowered their price target on ConocoPhillips from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lowered their price target for the company from $135.00 to $134.00 in a research report on Tuesday, July 19th. Societe Generale raised their price target on ConocoPhillips to $127.00 in a research report on Thursday, June 9th. Finally, MKM Partners raised their price target on ConocoPhillips from $110.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $121.47.

ConocoPhillips Profile

(Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COPGet Rating).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.