ConocoPhillips $COP Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in ConocoPhillips by 4.7%, now holding approximately 786,021 shares valued at $70.54 million.
• ConocoPhillips reported earnings of $1.42 per share for the last quarter, exceeding analyst estimates, with revenue growing 4.3% year-over-year.
• The company announced a quarterly dividend of $0.78 per share, representing an annual yield of 3.4% with a payout ratio of 41.88%.

US Bancorp DE lowered its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 786,021 shares of the energy producer's stock after selling 38,630 shares during the quarter. US Bancorp DE owned about 0.06% of ConocoPhillips worth $70,538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Tectonic Advisors LLC raised its stake in ConocoPhillips by 8.3% during the second quarter. Tectonic Advisors LLC now owns 7,522 shares of the energy producer's stock valued at $675,000 after buying an additional 579 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of ConocoPhillips by 77.7% during the second quarter. Vontobel Holding Ltd. now owns 16,687 shares of the energy producer's stock valued at $1,497,000 after purchasing an additional 7,295 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of ConocoPhillips by 1.7% during the second quarter. Maryland State Retirement & Pension System now owns 61,528 shares of the energy producer's stock valued at $5,522,000 after purchasing an additional 1,013 shares during the last quarter. Secured Retirement Advisors LLC bought a new position in shares of ConocoPhillips during the second quarter valued at approximately $207,000. Finally, REAP Financial Group LLC grew its holdings in shares of ConocoPhillips by 99.0% during the second quarter. REAP Financial Group LLC now owns 1,972 shares of the energy producer's stock valued at $177,000 after purchasing an additional 981 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Down 1.9%

COP opened at $91.94 on Friday. The stock's 50 day moving average price is $94.70 and its 200 day moving average price is $92.69. 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 stock has a market cap of $114.83 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.49 and a beta of 0.62. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38.

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

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is presently 41.88%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays lowered their target price on ConocoPhillips from $122.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday. Wall Street Zen raised ConocoPhillips from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Capital One Financial upped their target price on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Mizuho lowered their target price on ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Finally, Morgan Stanley restated an "overweight" rating and issued a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $117.23.

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.

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