ConocoPhillips $COP Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp lowered its position in ConocoPhillips (NYSE:COP) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,051 shares of the energy producer’s stock after selling 465 shares during the quarter. Heritage Investors Management Corp’s holdings in ConocoPhillips were worth $18,491,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of COP. Bogart Wealth LLC raised its stake in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after purchasing an additional 182 shares in the last quarter. Activest Wealth Management raised its stake in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at about $31,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $87.96 on Thursday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a market cap of $109.86 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 2.32 and a beta of 0.62. The company has a 50-day moving average price of $92.94 and a two-hundred day moving average price of $92.00.

ConocoPhillips (NYSE:COP) last posted its 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 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 analysts’ expectations of $14.39 billion. During the same quarter in the prior year, the firm earned $1.98 EPS. ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.5%. ConocoPhillips’s dividend payout ratio is 41.88%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on COP shares. Barclays cut their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Jefferies Financial Group lowered their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Royal Bank Of Canada boosted their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Weiss Ratings downgraded shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. Finally, Wolfe Research lowered their price objective on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.63.

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.