ConocoPhillips (NYSE:COP) Shares Sold by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. lowered its position in shares of ConocoPhillips (NYSE:COP) by 44.8% in the second quarter, HoldingsChannel.com reports. The fund owned 1,264 shares of the energy producer’s stock after selling 1,024 shares during the quarter. GHP Investment Advisors Inc.’s holdings in ConocoPhillips were worth $145,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. TradeLink Capital LLC acquired a new position in ConocoPhillips in the 2nd quarter worth approximately $229,000. Meeder Advisory Services Inc. increased its stake in shares of ConocoPhillips by 30.1% in the second quarter. Meeder Advisory Services Inc. now owns 25,059 shares of the energy producer’s stock worth $2,866,000 after acquiring an additional 5,795 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of ConocoPhillips by 11.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,051,781 shares of the energy producer’s stock worth $236,051,000 after purchasing an additional 211,746 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in ConocoPhillips by 2.2% during the second quarter. Oppenheimer & Co. Inc. now owns 75,487 shares of the energy producer’s stock valued at $8,634,000 after purchasing an additional 1,592 shares during the period. Finally, Main Street Financial Solutions LLC boosted its holdings in ConocoPhillips by 7.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,425 shares of the energy producer’s stock valued at $506,000 after purchasing an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $103.50 on Friday. 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 business has a 50 day simple moving average of $110.16 and a two-hundred day simple moving average of $116.70. The stock has a market capitalization of $120.19 billion, a P/E ratio of 11.72, a PEG ratio of 0.78 and a beta of 1.22. ConocoPhillips has a 12 month low of $101.29 and a 12 month 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 for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter last year, the firm posted $1.84 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts predict that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.24%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of recent research reports. Bank of America reissued a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Mizuho decreased their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Scotiabank dropped their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday. Finally, Wolfe Research began coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by insiders.

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.