Disciplined Investments LLC Lowers Position in ConocoPhillips $COP

Disciplined Investments LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,324 shares of the energy producer’s stock after selling 1,701 shares during the quarter. ConocoPhillips comprises about 1.4% of Disciplined Investments LLC’s investment portfolio, making the stock its 22nd largest position. Disciplined Investments LLC’s holdings in ConocoPhillips were worth $3,260,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management raised its stake in ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips in the first quarter valued at $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips in the first quarter valued at $37,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.4%

Shares of NYSE:COP opened at $86.53 on Friday. The stock’s 50-day moving average price is $94.04 and its two-hundred day moving average price is $91.93. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The firm has a market cap of $108.07 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 2.32 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 EPS. On average, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a report on Wednesday, October 8th. Wall Street Zen cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday. Melius Research began coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Barclays reduced their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Finally, Roth Capital lowered their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. Seventeen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $115.00.

About ConocoPhillips

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.