Cullinan Associates Inc. Sells 400 Shares of ConocoPhillips $COP

Cullinan Associates Inc. decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 1.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,932 shares of the energy producer’s stock after selling 400 shares during the quarter. Cullinan Associates Inc.’s holdings in ConocoPhillips were worth $1,968,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Tritonpoint Wealth LLC grew its stake in ConocoPhillips by 1.3% in the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after purchasing an additional 110 shares in the last quarter. First National Bank Sioux Falls grew its stake in ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after purchasing an additional 113 shares in the last quarter. KLCM Advisors Inc. grew its stake in ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after purchasing an additional 115 shares in the last quarter. Fairvoy Private Wealth LLC grew its stake in ConocoPhillips by 3.5% in the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after purchasing an additional 117 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in ConocoPhillips by 3.9% in the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock worth $334,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $94.17 on Monday. The business’s 50-day moving average is $94.92 and its two-hundred day moving average is $92.79. The company has a market capitalization of $117.61 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.49 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.98 EPS. Research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

Analyst Ratings Changes

Several research analysts recently issued reports on COP shares. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Mizuho dropped their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a report on Saturday, September 27th. Scotiabank increased their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Finally, BMO Capital Markets increased their price objective on ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.77.

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.