Miller Howard Investments Inc. NY Has $5.05 Million Holdings in ConocoPhillips $COP

Key Points

• Miller Howard Investments Inc. decreased its stake in ConocoPhillips by 6.7%, holding 56,243 shares valued at approximately $5 million as of the latest SEC filing.
• ConocoPhillips reported $1.42 EPS for Q2, exceeding expectations by $0.06, with revenue of $14.94 billion, up 4.3% from the prior year.
• The company's recent dividend payout was $0.78 per share, translating to an annual yield of 3.4% with a payout ratio of 41.88%.

Miller Howard Investments Inc. NY lowered its stake in ConocoPhillips (NYSE:COP - Free Report) by 6.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 56,243 shares of the energy producer's stock after selling 4,051 shares during the quarter. Miller Howard Investments Inc. NY's holdings in ConocoPhillips were worth $5,047,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Wellington Management Group LLP boosted its holdings in shares of ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer's stock valued at $3,319,746,000 after acquiring an additional 437,709 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of ConocoPhillips by 15.1% during the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer's stock worth $861,490,000 after purchasing an additional 1,073,906 shares during the period. Finally, Nuveen LLC acquired a new stake in ConocoPhillips in the first quarter valued at $658,981,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on COP shares. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Citigroup reduced their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Scotiabank lifted their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Wall Street Zen raised ConocoPhillips from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, UBS Group lifted their price target on ConocoPhillips from $116.00 to $124.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.14.

ConocoPhillips Price Performance

ConocoPhillips stock traded up $2.21 during midday trading on Tuesday, reaching $94.22. The company had a trading volume of 2,708,031 shares, compared to its average volume of 7,898,693. The firm's fifty day simple moving average is $94.55 and its 200-day simple moving average is $92.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $117.68 billion, a P/E ratio of 12.65, a P/E/G ratio of 2.42 and a beta of 0.69. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08.

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

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is currently 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.