Strategic Blueprint LLC Reduces Stock Position in ConocoPhillips $COP

Strategic Blueprint LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 23.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,805 shares of the energy producer’s stock after selling 2,329 shares during the quarter. Strategic Blueprint LLC’s holdings in ConocoPhillips were worth $700,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in COP. Bogart Wealth LLC raised its stake in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips in the first quarter worth approximately $31,000. Finally, IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips in the first quarter worth approximately $37,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on COP. Wolfe Research decreased their target price on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Melius Research began coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Evercore ISI decreased their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday, October 6th. Wall Street Zen cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Barclays reduced 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. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Stock Down 2.3%

NYSE COP opened at $88.01 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average of $93.32 and a two-hundred day moving average of $91.98. The firm has a market capitalization of $109.92 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.35 and a beta of 0.62. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The company 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%. ConocoPhillips’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.98 earnings per share. On average, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

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.