Patron Partners LLC Sells 1,087 Shares of ConocoPhillips $COP

Patron Partners LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 24.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,399 shares of the energy producer’s stock after selling 1,087 shares during the quarter. Patron Partners LLC’s holdings in ConocoPhillips were worth $305,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Financial Network Wealth Advisors LLC increased 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 worth $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC acquired a new position in ConocoPhillips during the 1st quarter worth approximately $31,000. Garde Capital Inc. acquired a new position in ConocoPhillips during the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. acquired a new position in ConocoPhillips during the 1st quarter worth approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in 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 acquiring an additional 293 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

NYSE:COP opened at $96.72 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $94.72 and a 200 day simple moving average of $93.03. The stock has a market capitalization of $120.80 billion, a PE ratio of 12.98, a P/E/G ratio of 2.52 and a beta of 0.69.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the previous year, the business posted $1.98 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on COP shares. Raymond James Financial reduced their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. BMO Capital Markets upped their price target on ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday. Citigroup reduced their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. 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. Finally, Roth Capital reaffirmed a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $120.14.

ConocoPhillips Company 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.