Kanawha Capital Management LLC Sells 164 Shares of ConocoPhillips $COP

Kanawha Capital Management LLC lessened its position in shares of ConocoPhillips (NYSE:COP) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,265 shares of the energy producer’s stock after selling 164 shares during the quarter. Kanawha Capital Management LLC’s holdings in ConocoPhillips were worth $3,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Arista Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $1,339,000. Applied Finance Capital Management LLC grew its holdings in shares of ConocoPhillips by 4.6% during the 2nd quarter. Applied Finance Capital Management LLC now owns 122,100 shares of the energy producer’s stock worth $10,958,000 after purchasing an additional 5,324 shares in the last quarter. Oxbow Advisors LLC grew its holdings in shares of ConocoPhillips by 369.1% during the 2nd quarter. Oxbow Advisors LLC now owns 164,364 shares of the energy producer’s stock worth $14,750,000 after purchasing an additional 129,326 shares in the last quarter. Master S Wealth Management Inc. grew its holdings in shares of ConocoPhillips by 54.9% during the 2nd quarter. Master S Wealth Management Inc. now owns 3,307 shares of the energy producer’s stock worth $297,000 after purchasing an additional 1,172 shares in the last quarter. Finally, Praxis Investment Management Inc. grew its holdings in shares of ConocoPhillips by 4.9% during the 2nd quarter. Praxis Investment Management Inc. now owns 75,664 shares of the energy producer’s stock worth $6,790,000 after purchasing an additional 3,510 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $86.53 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $108.07 billion, a P/E ratio of 11.61, a P/E/G ratio of 2.33 and a beta of 0.62. The business’s fifty day moving average is $94.04 and its two-hundred day moving average is $92.03. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The company 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 business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 earnings per share. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.6%. ConocoPhillips’s payout ratio is currently 41.88%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COP. Raymond James Financial decreased their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. UBS Group decreased their price target on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Wall Street Zen lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday. Susquehanna decreased their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Finally, BMO Capital Markets boosted their price target on ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

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.