Amalgamated Bank Trims Holdings in ConocoPhillips $COP

Amalgamated Bank cut its stake in ConocoPhillips (NYSE:COP) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 244,148 shares of the energy producer’s stock after selling 4,481 shares during the quarter. Amalgamated Bank’s holdings in ConocoPhillips were worth $21,910,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Bogart Wealth LLC grew its position in ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares in the last quarter. Activest Wealth Management grew its position in ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC grew its position in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new position in ConocoPhillips during the first quarter worth about $31,000. Finally, IMA Advisory Services Inc. purchased a new position in ConocoPhillips during the first quarter worth about $37,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. Mizuho dropped their price target on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Royal Bank Of Canada lifted their price target on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Wells Fargo & Company initiated coverage on ConocoPhillips in a research note on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price for the company. Jefferies Financial Group lowered their target price on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, BMO Capital Markets boosted their target price on ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Trading Up 1.3%

NYSE COP opened at $87.96 on Thursday. The stock has a 50-day moving average of $92.94 and a 200-day moving average of $92.00. The firm has a market cap of $109.86 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.32 and a beta of 0.62. 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 1-year low of $79.88 and a 1-year high of $115.38.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The firm 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 business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

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 dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

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.