Segall Bryant & Hamill LLC Trims Stake in ConocoPhillips (NYSE:COP)

Segall Bryant & Hamill LLC decreased its stake in shares of ConocoPhillips (NYSE:COP) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,310 shares of the energy producer’s stock after selling 645 shares during the period. Segall Bryant & Hamill LLC’s holdings in ConocoPhillips were worth $10,876,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Manning & Napier Advisors LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at $30,021,000. Alpha DNA Investment Management LLC increased its holdings in ConocoPhillips by 83.8% in 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 purchasing an additional 7,490 shares in the last quarter. Prospera Financial Services Inc raised its position in ConocoPhillips by 23.6% in the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after purchasing an additional 13,595 shares during the period. TCW Group Inc. lifted its stake in shares of ConocoPhillips by 37.8% during the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after purchasing an additional 8,231 shares in the last quarter. Finally, Doheny Asset Management CA purchased a new stake in shares of ConocoPhillips in the second quarter worth about $815,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 1.5 %

COP opened at $111.71 on Friday. The firm has a 50 day simple moving average of $108.74 and a 200 day simple moving average of $111.48. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a market cap of $128.57 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the company earned $2.16 earnings per share. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.79%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. Barclays increased their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Mizuho lifted their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, UBS Group reduced their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Six research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.63.

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.