Prime Capital Investment Advisors LLC Sells 11,483 Shares of ConocoPhillips (NYSE:COP)

Prime Capital Investment Advisors LLC lessened its stake in ConocoPhillips (NYSE:COP) by 32.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,508 shares of the energy producer’s stock after selling 11,483 shares during the period. Prime Capital Investment Advisors LLC’s holdings in ConocoPhillips were worth $2,689,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its stake in shares of ConocoPhillips by 3.7% in the 4th quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock valued at $1,560,000 after buying an additional 483 shares in the last quarter. Meridian Wealth Management LLC raised its position in ConocoPhillips by 9.2% in the fourth quarter. Meridian Wealth Management LLC now owns 2,919 shares of the energy producer’s stock worth $339,000 after purchasing an additional 247 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in ConocoPhillips during the fourth quarter worth about $41,000. Paragon Private Wealth Management LLC grew its stake in shares of ConocoPhillips by 8.7% in the 4th quarter. Paragon Private Wealth Management LLC now owns 1,851 shares of the energy producer’s stock valued at $215,000 after purchasing an additional 148 shares during the period. Finally, Coldstream Capital Management Inc. raised its holdings in shares of ConocoPhillips by 23.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 20,451 shares of the energy producer’s stock worth $2,374,000 after buying an additional 3,910 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

COP stock opened at $105.56 on Tuesday. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company has a market cap of $122.58 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22. The business’s fifty day moving average is $110.03 and its 200-day moving average is $116.69.

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. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the prior year, the firm posted $1.84 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The company 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. This represents a $2.32 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Analyst Ratings Changes

COP has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a report on Friday. Mizuho reduced their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Scotiabank dropped their target price on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, Sanford C. Bernstein decreased their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.06.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following 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 legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.