Whipplewood Advisors LLC Lowers Stock Position in ConocoPhillips $COP

Whipplewood Advisors LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 21.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 556 shares of the energy producer’s stock after selling 148 shares during the quarter. Whipplewood Advisors LLC’s holdings in ConocoPhillips were worth $50,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. boosted its stake in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after buying an additional 31,736,423 shares during the period. Nuveen LLC purchased a new position in ConocoPhillips during the first quarter worth about $658,981,000. AQR Capital Management LLC boosted its stake in ConocoPhillips by 190.5% during the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after buying an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of ConocoPhillips by 53.8% during the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after purchasing an additional 1,834,118 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.8%

Shares of NYSE:COP opened at $88.71 on Tuesday. The firm’s 50 day moving average price is $93.22 and its 200 day moving average price is $91.96. The stock has a market cap of $110.79 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. 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 (NYSE:COP) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Wall Street Analyst Weigh In

COP has been the topic of several research reports. Barclays reduced their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. JPMorgan Chase & Co. increased their price target on shares of ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. BMO Capital Markets increased their price target on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Jefferies Financial Group reduced their price target on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Wells Fargo & Company initiated coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target on the stock. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently 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.