Argyle Capital Management Inc. Sells 325 Shares of ConocoPhillips (NYSE:COP)

Argyle Capital Management Inc. lowered its position in shares of ConocoPhillips (NYSE:COP) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,906 shares of the energy producer’s stock after selling 325 shares during the quarter. ConocoPhillips comprises 1.5% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Argyle Capital Management Inc.’s holdings in ConocoPhillips were worth $3,885,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of COP. Claro Advisors LLC increased its holdings in ConocoPhillips by 6.2% in the first quarter. Claro Advisors LLC now owns 2,646 shares of the energy producer’s stock worth $337,000 after purchasing an additional 155 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of ConocoPhillips by 3.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 702,917 shares of the energy producer’s stock valued at $89,467,000 after acquiring an additional 20,621 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of ConocoPhillips by 1.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,135,332 shares of the energy producer’s stock valued at $399,065,000 after acquiring an additional 46,252 shares during the period. Azzad Asset Management Inc. ADV boosted its stake in ConocoPhillips by 3.3% during the first quarter. Azzad Asset Management Inc. ADV now owns 35,089 shares of the energy producer’s stock worth $4,466,000 after acquiring an additional 1,123 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in ConocoPhillips by 13.3% in the first quarter. Sivia Capital Partners LLC now owns 2,212 shares of the energy producer’s stock worth $282,000 after purchasing an additional 259 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP stock traded down $0.10 during trading on Tuesday, hitting $103.16. The company’s stock had a trading volume of 592,736 shares, compared to its average volume of 5,854,072. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The company has a market cap of $119.79 billion, a PE ratio of 11.51, a P/E/G ratio of 0.85 and a beta of 1.21. The business has a fifty day moving average of $108.30 and a 200-day moving average of $113.48. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 EPS. As a group, research analysts anticipate that ConocoPhillips will post 7.85 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 25.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Scotiabank lowered their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, Mizuho lowered their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy 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 price target of $136.94.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

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.