ConocoPhillips $COP Shares Sold by SJS Investment Consulting Inc.

SJS Investment Consulting Inc. lowered its position in shares of ConocoPhillips (NYSE:COP) by 17.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 863 shares of the energy producer’s stock after selling 178 shares during the period. SJS Investment Consulting Inc.’s holdings in ConocoPhillips were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. 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 worth $30,000 after purchasing an additional 222 shares during the period. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Garde Capital Inc. purchased a new position in shares of ConocoPhillips during the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips during the 1st quarter worth approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after purchasing an additional 293 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.2%

COP stock opened at $92.11 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The company has a fifty day simple moving average of $94.55 and a 200 day simple moving average of $92.98. The firm has a market cap of $115.04 billion, a PE ratio of 12.36, a PEG ratio of 2.42 and a beta of 0.69.

ConocoPhillips (NYSE:COP) last released 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. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the firm posted $1.98 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. ConocoPhillips’s payout ratio is 41.88%.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent research reports. Mizuho decreased their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley reaffirmed an “overweight” rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. BMO Capital Markets upped their price target on shares of ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Monday. Finally, Susquehanna reduced their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $120.14.

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.