ConocoPhillips (NYSE:COP) Shares Sold by Campion Asset Management

Campion Asset Management trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,183 shares of the energy producer’s stock after selling 340 shares during the quarter. Campion Asset Management’s holdings in ConocoPhillips were worth $649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Second Line Capital LLC lifted its position in ConocoPhillips by 2.2% during the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer’s stock worth $495,000 after acquiring an additional 108 shares during the period. Meiji Yasuda Life Insurance Co boosted its holdings in ConocoPhillips by 1.6% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer’s stock valued at $703,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC boosted its holdings in ConocoPhillips by 3.6% in the 4th quarter. LRI Investments LLC now owns 3,184 shares of the energy producer’s stock valued at $316,000 after purchasing an additional 110 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in ConocoPhillips by 3.9% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 118 shares in the last quarter. Finally, Northeast Financial Consultants Inc boosted its holdings in ConocoPhillips by 2.9% in the 4th quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer’s stock valued at $432,000 after purchasing an additional 122 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COP. Roth Capital reaffirmed a “buy” rating and issued a $108.00 price objective on shares of ConocoPhillips in a report on Thursday. Raymond James Financial lifted their price objective on ConocoPhillips from $109.00 to $117.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Citigroup lowered their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, June 11th. Bank of America lowered their price objective on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Finally, Barclays lowered their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.63.

ConocoPhillips Trading Up 1.4%

Shares of ConocoPhillips stock opened at $93.91 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The company has a market capitalization of $118.72 billion, a P/E ratio of 12.61, a P/E/G ratio of 2.44 and a beta of 0.67. The business has a 50 day moving average price of $92.77 and a 200 day moving average price of $93.66.

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

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a $0.78 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is currently 39.64%.

Insider Activity

In related news, EVP Kirk L. Johnson bought 5,300 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

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.