Syntax Research Inc. Reduces Holdings in ConocoPhillips $COP

Syntax Research Inc. reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,021 shares of the energy producer’s stock after selling 243 shares during the period. Syntax Research Inc.’s holdings in ConocoPhillips were worth $989,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. lifted its position in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares during the period. Nuveen LLC purchased a new position in ConocoPhillips during the 1st quarter valued at about $658,981,000. AQR Capital Management LLC lifted its position in ConocoPhillips by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after acquiring an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. lifted its position in ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after acquiring an additional 2,080,625 shares during the period. Finally, Deutsche Bank AG lifted its position in ConocoPhillips by 53.8% during the 1st quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock valued at $550,334,000 after acquiring an additional 1,834,118 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $93.45 on Friday. The company has a 50 day moving average price of $94.94 and a 200-day moving average price of $92.96. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The firm has a market capitalization of $116.71 billion, a PE ratio of 12.54, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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 analyst estimates of $14.39 billion. During the same period in the previous year, the business posted $1.98 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm 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. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COP. Mizuho lowered 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. Melius began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Susquehanna decreased their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Citigroup decreased their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Finally, Scotiabank lifted their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.