Burney Co. Trims Holdings in ConocoPhillips $COP

Burney Co. decreased its holdings in ConocoPhillips (NYSE:COP) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,272 shares of the energy producer’s stock after selling 1,506 shares during the quarter. Burney Co.’s holdings in ConocoPhillips were worth $3,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Gilbert & Cook Inc. raised its position in ConocoPhillips by 2.1% in the 2nd quarter. Gilbert & Cook Inc. now owns 9,706 shares of the energy producer’s stock valued at $871,000 after purchasing an additional 199 shares during the last quarter. Versor Investments LP acquired a new position in ConocoPhillips in the 2nd quarter valued at $296,000. Regal Partners Ltd increased its holdings in shares of ConocoPhillips by 306.3% in the 2nd quarter. Regal Partners Ltd now owns 7,768 shares of the energy producer’s stock valued at $697,000 after purchasing an additional 5,856 shares in the last quarter. Navalign LLC increased its holdings in shares of ConocoPhillips by 1.1% in the 2nd quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after purchasing an additional 108 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its holdings in shares of ConocoPhillips by 2.7% in the 2nd quarter. Aviance Capital Partners LLC now owns 26,140 shares of the energy producer’s stock valued at $2,346,000 after purchasing an additional 695 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 brokerages have recently issued reports on COP. Susquehanna cut their price target on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a report on Monday, October 20th. UBS Group lowered their price objective on shares of ConocoPhillips from $115.00 to $98.00 in a research note on Tuesday, October 28th. Morgan Stanley lowered their price objective on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Scotiabank increased their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Finally, Wolfe Research lowered their price objective 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. 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 has a consensus rating of “Moderate Buy” and an average price target of $114.63.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $88.54 on Tuesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The stock has a market capitalization of $110.58 billion, a P/E ratio of 11.88, a P/E/G ratio of 2.36 and a beta of 0.62. The firm’s 50-day moving average is $92.47 and its two-hundred day moving average is $92.07. 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 (NYSE:COP) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) 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 period last year, the company earned $1.98 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared 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 dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) 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.