Stephens Inc. AR Sells 718 Shares of ConocoPhillips $COP

Stephens Inc. AR cut its holdings in ConocoPhillips (NYSE:COP) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,933 shares of the energy producer’s stock after selling 718 shares during the quarter. Stephens Inc. AR’s holdings in ConocoPhillips were worth $5,109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Alaska Wealth Advisors bought a new position in shares of ConocoPhillips during the 2nd quarter valued at $221,000. Cidel Asset Management Inc. lifted its holdings in shares of ConocoPhillips by 2.2% during the 2nd quarter. Cidel Asset Management Inc. now owns 156,247 shares of the energy producer’s stock valued at $14,022,000 after buying an additional 3,431 shares during the period. Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 2.3% during the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 47,358 shares of the energy producer’s stock valued at $4,250,000 after buying an additional 1,054 shares during the period. Crux Wealth Advisors lifted its holdings in shares of ConocoPhillips by 59.7% during the 2nd quarter. Crux Wealth Advisors now owns 11,830 shares of the energy producer’s stock valued at $1,062,000 after buying an additional 4,423 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of ConocoPhillips during the 2nd quarter valued at $4,011,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Down 0.8%

Shares of COP opened at $86.39 on Wednesday. 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 stock has a market capitalization of $107.90 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.30 and a beta of 0.62. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The business’s 50 day simple moving average is $93.75 and its 200-day simple moving average is $91.88.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $14.39 billion. During the same quarter in the previous year, the business posted $1.98 earnings per share. ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of recent research reports. UBS Group decreased their target price on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Scotiabank raised their target price on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Royal Bank Of Canada raised their target price on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Wolfe Research decreased their target price on ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group decreased their target price on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $115.63.

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.