LSV Asset Management Sells 63,200 Shares of ConocoPhillips (NYSE:COP)

LSV Asset Management reduced its position in shares of ConocoPhillips (NYSE:COP) by 16.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 323,650 shares of the energy producer’s stock after selling 63,200 shares during the quarter. LSV Asset Management’s holdings in ConocoPhillips were worth $37,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valued Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its holdings in ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares in the last quarter. Adirondack Trust Co. lifted its holdings in ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC lifted its holdings in ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 90 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COP has been the topic of a number of research reports. UBS Group raised their price objective on ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Susquehanna reduced their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Bank of America reiterated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Barclays lifted their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Sanford C. Bernstein reduced their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $143.24.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated 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 $49,288,321.99. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $105.60 on Tuesday. The company has a market cap of $122.63 billion, a P/E ratio of 11.96, a P/E/G ratio of 0.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The stock has a 50-day moving average of $111.03 and a two-hundred day moving average of $116.98. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last released its 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 company 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%. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. As a group, analysts anticipate that ConocoPhillips will post 8.42 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.