Proficio Capital Partners LLC Sells 1,111 Shares of ConocoPhillips (NYSE:COP)

Proficio Capital Partners LLC decreased its position in ConocoPhillips (NYSE:COP) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,142 shares of the energy producer’s stock after selling 1,111 shares during the quarter. Proficio Capital Partners LLC’s holdings in ConocoPhillips were worth $1,278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the 3rd quarter valued at about $26,000. Stephens Consulting LLC grew its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Y.D. More Investments Ltd purchased a new stake in shares of ConocoPhillips during the second quarter valued at approximately $35,000. Finally, Fairway Wealth LLC lifted its holdings in ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of recent analyst reports. Wolfe Research began coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. UBS Group reduced their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Barclays lifted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. BMO Capital Markets increased their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Mizuho raised their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Stock Down 0.0 %

COP opened at $111.59 on Friday. The firm has a market capitalization of $128.43 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 0.93 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a fifty day moving average price of $107.73 and a 200-day moving average price of $112.40. 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 posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. Equities research analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 27.59%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by company insiders.

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.