ConocoPhillips $COP Shares Sold by Orleans Capital Management Corp LA

Orleans Capital Management Corp LA lessened its position in ConocoPhillips (NYSE:COP) by 38.6% in the 1st quarter, Holdings Channel reports. The fund owned 11,175 shares of the energy producer’s stock after selling 7,040 shares during the period. Orleans Capital Management Corp LA’s holdings in ConocoPhillips were worth $1,475,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AXA S.A. increased its holdings in ConocoPhillips by 91.1% in the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after buying an additional 40,499 shares in the last quarter. Sei Investments Co. lifted its position in shares of ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares during the period. BNP Paribas purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $33,000. Osterweis Capital Management Inc. purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC grew its holdings in shares of ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after acquiring an additional 1,675 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on COP shares. UBS Group dropped their price objective on ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Raymond James Financial decreased their target price on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Susquehanna raised their price target on ConocoPhillips from $152.00 to $155.00 and gave the company a “positive” rating in a research report on Tuesday. Scotiabank lifted their price target on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Capital One Financial decreased their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.16.

ConocoPhillips Trading Up 1.3%

Shares of ConocoPhillips stock opened at $120.30 on Friday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The business has a 50 day moving average price of $113.54 and a 200 day moving average price of $114.18. The company has a market capitalization of $146.56 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.43 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. Sell-side analysts anticipate that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.