Securian Asset Management Inc. Sells 1,583 Shares of ConocoPhillips $COP

Securian Asset Management Inc. cut its stake in ConocoPhillips (NYSE:COP) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,001 shares of the energy producer’s stock after selling 1,583 shares during the period. Securian Asset Management Inc.’s holdings in ConocoPhillips were worth $5,923,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Phoenix Financial Ltd. boosted its holdings in ConocoPhillips by 3.9% in the 2nd quarter. Phoenix Financial Ltd. now owns 13,040 shares of the energy producer’s stock valued at $1,170,000 after purchasing an additional 491 shares during the period. Berkeley Capital Partners LLC boosted its holdings in ConocoPhillips by 218.2% in the 2nd quarter. Berkeley Capital Partners LLC now owns 24,631 shares of the energy producer’s stock valued at $2,210,000 after purchasing an additional 16,890 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in ConocoPhillips by 8.2% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 20,373 shares of the energy producer’s stock valued at $1,828,000 after purchasing an additional 1,544 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in ConocoPhillips by 10.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,028,920 shares of the energy producer’s stock valued at $183,466,000 after purchasing an additional 188,885 shares during the period. Finally, Journey Advisory Group LLC boosted its holdings in ConocoPhillips by 18.9% in the 2nd quarter. Journey Advisory Group LLC now owns 7,837 shares of the energy producer’s stock valued at $703,000 after purchasing an additional 1,247 shares during the period. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COP. Wolfe Research reduced their price target on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating for the company in a report on Monday. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Evercore ISI dropped their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Roth Capital dropped their price objective on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.63.

ConocoPhillips Trading Up 0.6%

Shares of ConocoPhillips stock opened at $87.01 on Tuesday. The stock has a market capitalization of $108.67 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 2.29 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $93.91 and a 200 day simple moving average of $91.92. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38.

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

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

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.