Benjamin Edwards Inc. Trims Position in ConocoPhillips (NYSE:COP)

Benjamin Edwards Inc. decreased its position in shares of ConocoPhillips (NYSE:COP) by 3.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 19,777 shares of the energy producer’s stock after selling 708 shares during the period. Benjamin Edwards Inc.’s holdings in ConocoPhillips were worth $2,077,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Second Line Capital LLC lifted its stake in shares of ConocoPhillips by 2.2% during the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer’s stock valued at $495,000 after buying an additional 108 shares during the period. Meiji Yasuda Life Insurance Co increased its position in ConocoPhillips by 1.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer’s stock worth $703,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC increased its position in ConocoPhillips by 3.6% during the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer’s stock worth $316,000 after purchasing an additional 110 shares during the last quarter. Deseret Mutual Benefit Administrators increased its position in ConocoPhillips by 3.9% during the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock worth $334,000 after purchasing an additional 118 shares during the last quarter. Finally, Northeast Financial Consultants Inc increased its position in ConocoPhillips by 2.9% during the fourth quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer’s stock worth $432,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $93.56 on Tuesday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $116.85 billion, a PE ratio of 12.56, a P/E/G ratio of 2.44 and a beta of 0.67. The stock’s 50 day moving average is $92.91 and its two-hundred day moving average is $93.53.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the prior year, the firm posted $1.98 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. ConocoPhillips’s payout ratio is 41.88%.

Wall Street Analyst Weigh In

COP has been the subject of several research analyst reports. Citigroup dropped their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Roth Capital reaffirmed a “buy” rating and set a $108.00 price target on shares of ConocoPhillips in a research report on Thursday. Raymond James Financial upped their price target on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $120.84.

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.