CKW Financial Group Cuts Position in ConocoPhillips (NYSE:COP)

CKW Financial Group cut its stake in ConocoPhillips (NYSE:COP) by 15.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 550 shares of the energy producer’s stock after selling 100 shares during the quarter. CKW Financial Group’s holdings in ConocoPhillips were worth $60,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of COP. Transamerica Financial Advisors Inc. raised its holdings in shares of ConocoPhillips by 24.4% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 12,362 shares of the energy producer’s stock valued at $1,302,000 after buying an additional 2,426 shares during the period. Principal Street Partners LLC raised its stake in shares of ConocoPhillips by 26.2% during the third quarter. Principal Street Partners LLC now owns 9,075 shares of the energy producer’s stock valued at $990,000 after purchasing an additional 1,886 shares during the period. Avestar Capital LLC lifted its position in shares of ConocoPhillips by 2.2% during the third quarter. Avestar Capital LLC now owns 10,605 shares of the energy producer’s stock worth $1,116,000 after purchasing an additional 226 shares in the last quarter. Covington Investment Advisors Inc. boosted its stake in shares of ConocoPhillips by 1.4% in the third quarter. Covington Investment Advisors Inc. now owns 109,308 shares of the energy producer’s stock valued at $11,508,000 after purchasing an additional 1,475 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in shares of ConocoPhillips by 2.4% in the third quarter. D.A. Davidson & CO. now owns 130,517 shares of the energy producer’s stock valued at $13,741,000 after purchasing an additional 3,060 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.3 %

Shares of NYSE:COP traded down $0.36 during mid-day trading on Tuesday, reaching $105.74. The stock had a trading volume of 2,379,196 shares, compared to its average volume of 5,962,989. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a market cap of $121.70 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The firm has a 50 day simple moving average of $108.92 and a two-hundred day simple moving average of $111.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.16 EPS. On average, research analysts predict that ConocoPhillips will post 7.78 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on COP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. UBS Group decreased their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, BMO Capital Markets upped their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips 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.