Mediolanum International Funds Ltd Sells 227,988 Shares of ConocoPhillips $COP

Mediolanum International Funds Ltd cut its position in shares of ConocoPhillips (NYSE:COP) by 40.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 332,220 shares of the energy producer’s stock after selling 227,988 shares during the quarter. Mediolanum International Funds Ltd’s holdings in ConocoPhillips were worth $29,956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC grew its holdings in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management lifted 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 during the period. Financial Network Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 341.5% during 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 ConocoPhillips during the first quarter worth approximately $31,000. Finally, IMA Advisory Services Inc. acquired a new stake in ConocoPhillips during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, Director William H. Mcraven acquired 5,768 shares of the stock in a transaction dated Monday, November 10th. The stock was purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares in the company, valued at $499,970.24. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

COP has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price target on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Raymond James Financial lowered their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Jefferies Financial Group dropped their target price on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. BMO Capital Markets reduced their price target on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Finally, Wolfe Research reiterated an “outperform” rating and set a $131.00 price objective on shares of ConocoPhillips in a report on Thursday, November 6th. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.13.

ConocoPhillips Stock Performance

Shares of COP stock opened at $87.61 on Friday. 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 firm has a fifty day simple moving average of $90.58 and a two-hundred day simple moving average of $91.87. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The firm has a market capitalization of $108.26 billion, a PE ratio of 11.76, a price-to-earnings-growth 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, beating analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the company earned $1.78 earnings per share. Analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $0.84 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.8%. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

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.