ConocoPhillips (NYSE:COP) Holdings Cut by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 7.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 17,424 shares of the energy producer’s stock after selling 1,459 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in ConocoPhillips were worth $1,993,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Symmetry Investments LP purchased a new position in ConocoPhillips in the second quarter valued at about $8,165,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of ConocoPhillips by 135.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,378 shares of the energy producer’s stock valued at $1,645,000 after buying an additional 8,270 shares during the last quarter. Alaethes Wealth LLC grew its stake in shares of ConocoPhillips by 1.3% in the 2nd quarter. Alaethes Wealth LLC now owns 15,800 shares of the energy producer’s stock valued at $1,807,000 after buying an additional 199 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in ConocoPhillips by 1.3% in the second quarter. Westwood Holdings Group Inc. now owns 411,701 shares of the energy producer’s stock worth $47,090,000 after buying an additional 5,291 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its position in ConocoPhillips by 264.4% during the second quarter. Summit Trail Advisors LLC now owns 23,587 shares of the energy producer’s stock valued at $2,698,000 after acquiring an additional 17,114 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.6 %

Shares of COP opened at $109.87 on Monday. The stock’s 50-day moving average price is $109.76 and its 200 day moving average price is $116.60. 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 firm has a market capitalization of $127.59 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 0.80 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 released 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 business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. As a group, research analysts predict that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insider Activity

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho decreased their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Bank of America reissued a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Scotiabank lowered their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Wolfe Research initiated coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Five equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.29.

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.