ConocoPhillips $COP Shares Sold by Cromwell Holdings LLC

Cromwell Holdings LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,895 shares of the energy producer’s stock after selling 254 shares during the period. Cromwell Holdings LLC’s holdings in ConocoPhillips were worth $350,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in COP. Financial Network Wealth Advisors LLC lifted its position in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at about $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at about $35,000. IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after buying an additional 293 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP opened at $93.45 on Friday. The firm has a market capitalization of $116.71 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. The stock’s 50 day moving average price is $94.94 and its two-hundred day moving average price is $92.96. 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 has a 12-month low of $79.88 and a 12-month high of $116.08.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 EPS. On average, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, June 11th. Morgan Stanley reiterated an “overweight” rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Melius Research initiated coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Finally, UBS Group boosted their price objective on ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.