Sanctuary Advisors LLC Sells 6,101 Shares of ConocoPhillips (NYSE:COP)

Sanctuary Advisors LLC lessened its position in shares of ConocoPhillips (NYSE:COP) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 249,200 shares of the energy producer’s stock after selling 6,101 shares during the period. Sanctuary Advisors LLC’s holdings in ConocoPhillips were worth $27,848,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP grew its position in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC increased its stake in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. raised its position in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after purchasing an additional 4,504,653 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in ConocoPhillips by 48.9% during the third quarter. Primecap Management Co. CA now owns 4,320,905 shares of the energy producer’s stock worth $454,905,000 after purchasing an additional 1,418,900 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 1.2 %

Shares of ConocoPhillips stock opened at $100.92 on Friday. ConocoPhillips has a 52-week low of $100.87 and a 52-week high of $135.18. The company has a 50-day simple moving average of $108.03 and a two-hundred day simple moving average of $109.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market capitalization of $116.15 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the company earned $2.16 earnings per share. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, analysts anticipate that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.09%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is presently 37.10%.

Analysts Set New Price Targets

A number of analysts recently weighed in on COP shares. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Mizuho increased their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Susquehanna lifted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Evercore ISI restated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, Wells Fargo & Company boosted their target price on ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $139.18.

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.