Bessemer Group Inc. Decreases Holdings in ConocoPhillips $COP

Bessemer Group Inc. cut its stake in shares of ConocoPhillips (NYSE:COP) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,640,376 shares of the energy producer’s stock after selling 3,080 shares during the period. Bessemer Group Inc.’s holdings in ConocoPhillips were worth $326,688,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in COP. Bogart Wealth LLC raised its stake in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management raised its stake in ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC raised its stake in 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 buying an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in ConocoPhillips during the 1st quarter valued at $31,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips in the 1st quarter worth $37,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. Melius initiated coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. UBS Group reduced their price objective on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Susquehanna reduced their price objective on ConocoPhillips to $113.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Weiss Ratings lowered ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Wall Street Zen lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Trading Down 2.3%

Shares of COP stock opened at $88.01 on Monday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. 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 capitalization of $109.92 billion, a PE ratio of 11.81, a PEG ratio of 2.35 and a beta of 0.62. The stock has a fifty day simple moving average of $93.32 and a two-hundred day simple moving average of $91.98.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the business posted $1.98 EPS. ConocoPhillips’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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