Pittenger & Anderson Inc. Has $56,000 Stock Position in ConocoPhillips $COP

Pittenger & Anderson Inc. reduced its position in ConocoPhillips (NYSE:COP) by 28.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 626 shares of the energy producer’s stock after selling 244 shares during the period. Pittenger & Anderson Inc.’s holdings in ConocoPhillips were worth $56,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in COP. Schwartz Investment Counsel Inc. grew its stake in shares of ConocoPhillips by 159.6% during the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock worth $5,125,000 after purchasing an additional 30,000 shares during the period. Aberdeen Group plc grew its stake in shares of ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after purchasing an additional 264,726 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of ConocoPhillips by 17.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after purchasing an additional 22,827 shares during the period. Ashton Thomas Private Wealth LLC grew its stake in shares of ConocoPhillips by 17.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock worth $3,924,000 after purchasing an additional 5,627 shares during the period. Finally, Lynx Investment Advisory grew its stake in shares of ConocoPhillips by 316.6% during the first quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer’s stock worth $1,131,000 after purchasing an additional 8,184 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the subject of a number of analyst reports. Roth Capital decreased their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Royal Bank Of Canada boosted their target price on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Wolfe Research decreased their target price on ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday. Mizuho decreased their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Melius initiated coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Eighteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $115.63.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $86.39 on Wednesday. The firm has a market cap of $107.90 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.30 and a beta of 0.62. The stock’s 50-day moving average is $93.75 and its 200-day moving average is $91.88. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating 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 company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.98 earnings per share. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

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.