ConocoPhillips $COP Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. lowered its stake in ConocoPhillips (NYSE:COP) by 11.6% during the second quarter, Holdings Channel.com reports. The fund owned 48,672 shares of the energy producer’s stock after selling 6,400 shares during the quarter. Louisbourg Investments Inc.’s holdings in ConocoPhillips were worth $4,368,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tritonpoint Wealth LLC grew its stake in ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after acquiring an additional 110 shares during the period. Iowa State Bank grew its stake in ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after acquiring an additional 110 shares during the period. First National Bank Sioux Falls grew its stake in ConocoPhillips by 4.6% in the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after acquiring an additional 113 shares during the period. KLCM Advisors Inc. grew its stake in ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after acquiring an additional 115 shares during the period. Finally, Fairvoy Private Wealth LLC grew its stake in ConocoPhillips by 3.5% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 4.5%

NYSE COP opened at $87.83 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 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. The business’s fifty day simple moving average is $94.60 and its 200-day simple moving average is $92.59. The firm has a market cap of $109.70 billion, a PE ratio of 11.79, a P/E/G ratio of 2.44 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 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 business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts anticipate 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 issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is currently 41.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on COP shares. Morgan Stanley reissued an “overweight” rating and issued a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Melius began coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Mizuho decreased their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a report on Wednesday. Finally, Susquehanna decreased their price objective on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.23.

ConocoPhillips Company 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.