ConocoPhillips (NYSE:COP) Stock Holdings Trimmed by Hosking Partners LLP

Key Points

• Hosking Partners LLP reduced its holdings in ConocoPhillips by 10.0%, selling 32,440 shares, which leaves the institutional investor with 292,398 shares valued at approximately $30.7 million.
• ConocoPhillips reported a quarterly EPS of $1.42, beating analysts' expectations, with revenue for the quarter reaching $14.94 billion, exceeding forecasts by about $550 million.
• The company announced a quarterly dividend of $0.78 per share, representing an annualized yield of 3.3%, with the payment scheduled for September 2nd.

Hosking Partners LLP decreased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 10.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 292,398 shares of the energy producer's stock after selling 32,440 shares during the period. ConocoPhillips makes up approximately 1.3% of Hosking Partners LLP's investment portfolio, making the stock its 24th largest holding. Hosking Partners LLP's holdings in ConocoPhillips were worth $30,708,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. 10Elms LLP purchased a new stake in ConocoPhillips in the 4th quarter valued at $28,000. Garde Capital Inc. purchased a new position in shares of ConocoPhillips during the 1st quarter worth $35,000. IMA Advisory Services Inc. purchased a new position in ConocoPhillips during the 1st quarter valued at about $37,000. Fourth Dimension Wealth LLC purchased a new position in ConocoPhillips during the 4th quarter valued at about $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ConocoPhillips during the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Mizuho cut their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Royal Bank Of Canada dropped their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, July 11th. UBS Group upped their price objective on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Susquehanna lowered their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.84.

Insider Activity

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.24% of the company's stock.

ConocoPhillips Stock Up 0.5%

NYSE COP traded up $0.45 during mid-day trading on Wednesday, reaching $95.04. 2,676,863 shares of the company's stock traded hands, compared to its average volume of 8,136,998. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a fifty day simple moving average of $93.04 and a 200-day simple moving average of $93.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a market cap of $118.70 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 2.43 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last issued 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 return on equity of 14.60% and a net margin of 15.26%. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the firm earned $1.98 EPS. ConocoPhillips's quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is 41.88%.

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.