ConocoPhillips (NYSE:COP) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp trimmed its holdings in ConocoPhillips (NYSE:COP) by 8.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,117 shares of the energy producer’s stock after selling 570 shares during the period. UNIVEST FINANCIAL Corp’s holdings in ConocoPhillips were worth $642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of COP. 10Elms LLP acquired a new stake in ConocoPhillips during the fourth quarter worth about $28,000. Garde Capital Inc. acquired a new stake in ConocoPhillips during the first quarter worth about $35,000. IMA Advisory Services Inc. acquired a new stake in ConocoPhillips during the first quarter worth about $37,000. Fourth Dimension Wealth LLC acquired a new stake in ConocoPhillips during the fourth quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in ConocoPhillips during the first quarter worth about $42,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on COP shares. Barclays cut their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Mizuho dropped their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Royal Bank Of Canada lowered their price target on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, July 11th. Raymond James Financial raised their price target on ConocoPhillips from $109.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Finally, UBS Group raised their price target on ConocoPhillips from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $121.33.

ConocoPhillips Stock Down 2.7%

Shares of ConocoPhillips stock opened at $92.75 on Friday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a 50 day moving average of $91.97 and a 200 day moving average of $94.15. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $117.25 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.48 and a beta of 0.67.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. ConocoPhillips’s payout ratio is currently 39.64%.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The stock was acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares of the company’s stock, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

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.