Catalina Capital Group LLC Decreases Stock Holdings in ConocoPhillips $COP

Catalina Capital Group LLC lessened its stake in ConocoPhillips (NYSE:COP) by 55.3% in the second quarter, HoldingsChannel reports. The firm owned 2,763 shares of the energy producer’s stock after selling 3,419 shares during the period. Catalina Capital Group LLC’s holdings in ConocoPhillips were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC grew its position in shares of ConocoPhillips by 83.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after acquiring an additional 8,189 shares during the period. Schwartz Investment Counsel Inc. grew its position in shares of ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock valued at $5,125,000 after acquiring an additional 30,000 shares during the period. Aberdeen Group plc lifted its stake in shares of ConocoPhillips by 49.3% during the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after buying an additional 264,726 shares in the last quarter. ORG Wealth Partners LLC lifted its stake in shares of ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock valued at $698,000 after buying an additional 5,922 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in shares of ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after buying an additional 54,900 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $93.45 on Friday. The company has a 50 day moving average price of $94.94 and a 200-day moving average price of $92.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The company has a market capitalization of $116.71 billion, a PE ratio of 12.54, a P/E/G ratio of 2.51 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted its quarterly 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. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is currently 41.88%.

Analysts Set New Price Targets

Several analysts have commented on COP shares. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Scotiabank upped their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Melius assumed coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Finally, Morgan Stanley restated an “overweight” rating and set a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.14.

ConocoPhillips Profile

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.