King Luther Capital Management Corp Has $204.44 Million Stock Holdings in ConocoPhillips $COP

King Luther Capital Management Corp decreased its position in ConocoPhillips (NYSE:COP) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,278,174 shares of the energy producer’s stock after selling 92,183 shares during the quarter. ConocoPhillips comprises approximately 0.9% of King Luther Capital Management Corp’s investment portfolio, making the stock its 29th biggest position. King Luther Capital Management Corp owned about 0.18% of ConocoPhillips worth $204,443,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. PFG Advisors grew its stake in shares of ConocoPhillips by 14.9% during the second quarter. PFG Advisors now owns 7,360 shares of the energy producer’s stock worth $660,000 after buying an additional 956 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of ConocoPhillips by 11.5% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,030 shares of the energy producer’s stock valued at $362,000 after acquiring an additional 417 shares in the last quarter. Midwest Trust Co bought a new stake in ConocoPhillips during the 2nd quarter worth $36,953,000. Sound View Wealth Advisors Group LLC increased its holdings in ConocoPhillips by 2.8% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 4,407 shares of the energy producer’s stock worth $395,000 after purchasing an additional 122 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in ConocoPhillips by 4.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,397,339 shares of the energy producer’s stock valued at $215,137,000 after purchasing an additional 104,878 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $86.82 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The company has a fifty day moving average price of $91.58 and a 200-day moving average price of $92.00. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm has a market cap of $108.43 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same period in the prior year, the firm posted $1.78 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.9%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s payout ratio is currently 41.88%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COP shares. Raymond James Financial lowered their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Evercore ISI dropped their price target on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group cut their price objective on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Finally, Capital One Financial increased their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.54.

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.