Conservest Capital Advisors Inc. Lowers Position in ConocoPhillips $COP

Conservest Capital Advisors Inc. lessened its stake in ConocoPhillips (NYSE:COP) by 23.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,000 shares of the energy producer’s stock after selling 1,244 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in ConocoPhillips were worth $359,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of COP. Charles Schwab Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after buying an additional 31,736,423 shares in the last quarter. Nuveen LLC purchased a new stake in ConocoPhillips during the first quarter valued at $658,981,000. AQR Capital Management LLC raised its stake in ConocoPhillips by 190.5% during the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after purchasing an additional 3,058,505 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after purchasing an additional 2,080,625 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in ConocoPhillips by 53.8% during the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock valued at $550,334,000 after purchasing an additional 1,834,118 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Mizuho decreased their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Capital One Financial upped their price target on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Morgan Stanley cut their price objective on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Barclays cut their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group cut their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.63.

ConocoPhillips Stock Down 2.3%

Shares of COP opened at $88.01 on Friday. The firm has a market capitalization of $109.92 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.35 and a beta of 0.62. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. 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 moving average price of $93.32 and a 200-day moving average price of $91.98.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 earnings per share. Equities research analysts expect 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 was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is currently 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.