Oppenheimer Asset Management Inc. Sells 12,467 Shares of ConocoPhillips (NYSE:COP)

Oppenheimer Asset Management Inc. trimmed its holdings in ConocoPhillips (NYSE:COP) by 5.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 207,553 shares of the energy producer’s stock after selling 12,467 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ConocoPhillips were worth $21,851,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EP Wealth Advisors LLC increased its stake in ConocoPhillips by 19.1% in the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after acquiring an additional 4,578 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in ConocoPhillips during the 2nd quarter valued at $30,021,000. Alpha DNA Investment Management LLC boosted its holdings in ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after acquiring an additional 7,490 shares during the period. TCW Group Inc. lifted its holdings in shares of ConocoPhillips by 37.8% in the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after buying an additional 8,231 shares during the period. Finally, Doheny Asset Management CA purchased a new stake in shares of ConocoPhillips in the 2nd quarter worth $815,000. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Scotiabank decreased their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Barclays lifted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Trading Down 0.6 %

NYSE COP traded down $0.67 during trading hours on Wednesday, reaching $109.97. The company had a trading volume of 416,779 shares, compared to its average volume of 5,872,161. The stock has a 50-day moving average of $107.71 and a 200 day moving average of $111.90. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $126.57 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

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.