ConocoPhillips $COP Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,371 shares of the energy producer’s stock after selling 187 shares during the period. Bristlecone Advisors LLC’s holdings in ConocoPhillips were worth $661,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of COP. Bogart Wealth LLC raised its stake in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management grew its holdings in ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC grew its holdings 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 acquiring 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. Finally, IMA Advisory Services Inc. acquired a new position in ConocoPhillips during the 1st quarter worth approximately $37,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on COP. Barclays lowered their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. UBS Group lowered their target price on shares of ConocoPhillips from $124.00 to $122.00 and set a “buy” rating for the company in a report on Monday, October 13th. Wall Street Zen cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Scotiabank upped their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group lowered their target price on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a report on Friday, October 17th. 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.63.

ConocoPhillips Stock Up 1.3%

Shares of NYSE:COP opened at $87.96 on Thursday. The stock has a market cap of $109.86 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.32 and a beta of 0.62. The firm has a fifty day moving average price of $92.94 and a 200 day moving average price of $92.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $1.98 EPS. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company 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. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. ConocoPhillips’s dividend 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.