Sigma Planning Corp Decreases Stock Position in ConocoPhillips (NYSE:COP)

Sigma Planning Corp lessened its holdings in ConocoPhillips (NYSE:COP) by 16.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,360 shares of the energy producer’s stock after selling 3,303 shares during the period. Sigma Planning Corp’s holdings in ConocoPhillips were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new stake in ConocoPhillips during the third quarter valued at $26,000. Stephens Consulting LLC raised its holdings in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the period. Reston Wealth Management LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at about $31,000. Y.D. More Investments Ltd acquired a new position in ConocoPhillips in the second quarter valued at approximately $35,000. Finally, Fairway Wealth LLC grew its holdings in shares of ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.4 %

NYSE:COP opened at $112.08 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a market capitalization of $128.99 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.91 and a beta of 1.21. The stock has a fifty day moving average price of $107.73 and a two-hundred day moving average price of $112.16.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wolfe Research started coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target for the company. Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.47.

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.