Flputnam Investment Management Co. Sells 5,935 Shares of ConocoPhillips $COP

Flputnam Investment Management Co. lessened its stake in shares of ConocoPhillips (NYSE:COP) by 29.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,512 shares of the energy producer’s stock after selling 5,935 shares during the period. Flputnam Investment Management Co.’s holdings in ConocoPhillips were worth $1,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after acquiring an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in shares of ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock valued at $5,125,000 after acquiring an additional 30,000 shares during the last quarter. Aberdeen Group plc lifted its holdings in shares of ConocoPhillips by 49.3% in the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after acquiring an additional 264,726 shares during the last quarter. ORG Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock valued at $698,000 after acquiring an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its holdings in shares of ConocoPhillips by 151.1% in the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after acquiring an additional 54,900 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on COP shares. Mizuho lowered their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Roth Capital reaffirmed a “buy” rating and issued a $108.00 price target on shares of ConocoPhillips in a report on Thursday, August 7th. Bank of America decreased their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Finally, Scotiabank raised their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $120.95.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Up 0.6%

Shares of NYSE COP opened at $99.06 on Tuesday. 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 market cap of $123.72 billion, a P/E ratio of 13.30, a PEG ratio of 2.60 and a beta of 0.69. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The firm has a 50-day simple moving average of $94.30 and a two-hundred day simple moving average of $93.17.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.98 earnings per share. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.1%. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

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.