Hardin Capital Partners LLC Lowers Holdings in ConocoPhillips (NYSE:COP)

Hardin Capital Partners LLC trimmed its position in ConocoPhillips (NYSE:COP) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,103 shares of the energy producer’s stock after selling 667 shares during the period. ConocoPhillips accounts for 0.8% of Hardin Capital Partners LLC’s investment portfolio, making the stock its 16th biggest position. Hardin Capital Partners LLC’s holdings in ConocoPhillips were worth $1,341,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC raised its stake in ConocoPhillips by 2.2% in the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after purchasing an additional 212 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in shares of ConocoPhillips by 5.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after buying an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of ConocoPhillips during the 2nd quarter worth $30,021,000. EP Wealth Advisors LLC grew its position in ConocoPhillips by 19.1% in the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after acquiring an additional 4,578 shares in the last quarter. Finally, Norden Group LLC increased its stake in ConocoPhillips by 2,634.9% in the first quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock valued at $15,838,000 after acquiring an additional 119,890 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COP. BMO Capital Markets upped their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Susquehanna cut their target price on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a research note on Friday. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group cut their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Sanford C. Bernstein reduced their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.94.

ConocoPhillips Trading Down 0.5 %

NYSE COP opened at $105.67 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market cap of $122.71 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The stock has a 50 day simple moving average of $109.01 and a two-hundred day simple moving average of $114.78.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.84 earnings per share. On average, analysts forecast that ConocoPhillips will post 7.99 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 25.86%.

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.