ConocoPhillips (NYSE:COP) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC reduced its position in ConocoPhillips (NYSE:COP) by 15.5% in the 3rd quarter, Holdings Channel reports. The firm owned 7,126 shares of the energy producer’s stock after selling 1,309 shares during the quarter. NorthRock Partners LLC’s holdings in ConocoPhillips were worth $750,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in COP. Geneos Wealth Management Inc. grew its holdings in ConocoPhillips by 23.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 8,129 shares of the energy producer’s stock valued at $1,035,000 after buying an additional 1,557 shares in the last quarter. SPC Financial Inc. grew its holdings in ConocoPhillips by 6.6% in the 1st quarter. SPC Financial Inc. now owns 3,227 shares of the energy producer’s stock valued at $411,000 after buying an additional 200 shares in the last quarter. Broderick Brian C grew its holdings in ConocoPhillips by 23.5% in the 1st quarter. Broderick Brian C now owns 5,150 shares of the energy producer’s stock valued at $655,000 after buying an additional 981 shares in the last quarter. Flossbach Von Storch AG grew its holdings in ConocoPhillips by 2.3% in the 1st quarter. Flossbach Von Storch AG now owns 237,448 shares of the energy producer’s stock valued at $30,222,000 after buying an additional 5,406 shares in the last quarter. Finally, Advisory Alpha LLC grew its holdings in ConocoPhillips by 1.2% in the 1st quarter. Advisory Alpha LLC now owns 8,598 shares of the energy producer’s stock valued at $1,094,000 after buying an additional 100 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP opened at $109.22 on Wednesday. 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 firm has a market cap of $125.70 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.88 and a beta of 1.21. The stock’s 50-day moving average price is $107.78 and its 200 day moving average price is $112.52. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results 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. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 7.78 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.86%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 27.59%.

Insider Buying and Selling at ConocoPhillips

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

Wall Street Analyst Weigh In

Several analysts have issued reports on COP shares. UBS Group dropped their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target for the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. BMO Capital Markets increased their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Mizuho increased their price target on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average 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.