ConocoPhillips $COP Shares Sold by Impala Asset Management LLC

Key Points

• Impala Asset Management LLC reduced its position in ConocoPhillips (COP) by 14.3%, resulting in ownership of 25,000 shares worth approximately $2.63 million.
• ConocoPhillips reported earnings of $1.42 per share for the last quarter, surpassing estimates, and had a revenue of $14.94 billion, marking a 4.3% year-over-year increase.
• The company declared a quarterly dividend of $0.78, yielding around 3.4%, with a payout ratio of 41.88%.

Impala Asset Management LLC decreased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,000 shares of the energy producer's stock after selling 4,187 shares during the quarter. ConocoPhillips comprises about 1.7% of Impala Asset Management LLC's investment portfolio, making the stock its 11th largest holding. Impala Asset Management LLC's holdings in ConocoPhillips were worth $2,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of COP. Triumph Capital Management raised its stake in shares of ConocoPhillips by 6.7% during the fourth quarter. Triumph Capital Management now owns 2,364 shares of the energy producer's stock valued at $234,000 after purchasing an additional 149 shares in the last quarter. Ethic Inc. raised its position in ConocoPhillips by 208.4% in the fourth quarter. Ethic Inc. now owns 19,035 shares of the energy producer's stock worth $1,888,000 after acquiring an additional 12,862 shares in the last quarter. Focus Partners Wealth raised its holdings in ConocoPhillips by 29.5% during the 4th quarter. Focus Partners Wealth now owns 94,406 shares of the energy producer's stock worth $9,362,000 after buying an additional 21,505 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its holdings in ConocoPhillips by 20.4% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 19,994 shares of the energy producer's stock worth $1,983,000 after buying an additional 3,392 shares during the period. Finally, LRI Investments LLC raised its holdings in ConocoPhillips by 3.6% during the 4th quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock worth $316,000 after buying an additional 110 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 1.3%

Shares of ConocoPhillips stock opened at $93.06 on Wednesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. 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 stock has a market capitalization of $116.23 billion, a P/E ratio of 12.49, a PEG ratio of 2.39 and a beta of 0.69. The stock has a 50 day moving average price of $94.79 and a two-hundred day moving average price of $93.03.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. During the same period in the prior year, the business earned $1.98 earnings per share. ConocoPhillips's revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio is currently 41.88%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COP. Melius began coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective on the stock. Roth Capital restated a "buy" rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Susquehanna cut their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Finally, Wall Street Zen cut ConocoPhillips from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and four have given 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 $120.86.

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.

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