Diamond Hill Capital Management LLC Investment Advisor Sells 1,048,529 Shares of ConocoPhillips $COP

Diamond Hill Capital Management LLC Investment Advisor lowered its position in ConocoPhillips (NYSE:COP - Free Report) by 36.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,867,249 shares of the energy producer's stock after selling 1,048,529 shares during the period. ConocoPhillips accounts for about 1.6% of Diamond Hill Capital Management LLC Investment Advisor's investment portfolio, making the stock its 20th largest holding. Diamond Hill Capital Management LLC Investment Advisor owned about 0.15% of ConocoPhillips worth $194,119,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in COP. Concurrent Investment Advisors LLC boosted its holdings in shares of ConocoPhillips by 31.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer's stock valued at $8,067,000 after buying an additional 20,501 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of ConocoPhillips by 10.5% in the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer's stock worth $14,572,000 after buying an additional 14,833 shares during the period. Vanguard Group Inc. increased its stake in shares of ConocoPhillips by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer's stock worth $11,256,713,000 after acquiring an additional 408,304 shares in the last quarter. Mach 1 Financial Group LLC bought a new position in shares of ConocoPhillips in the 4th quarter worth about $1,169,000. Finally, Jennison Associates LLC lifted its holdings in shares of ConocoPhillips by 7.6% during the fourth quarter. Jennison Associates LLC now owns 153,240 shares of the energy producer's stock valued at $14,345,000 after purchasing an additional 10,779 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

COP opened at $127.64 on Tuesday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The company's 50-day simple moving average is $114.05 and its two-hundred day simple moving average is $116.92. The stock has a market capitalization of $153.34 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.40 and a beta of 0.11.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts' consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm's revenue was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 EPS. As a group, analysts predict that ConocoPhillips will post 10.05 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 17th. ConocoPhillips's dividend payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley restated an "overweight" rating and issued a $147.00 price target on shares of ConocoPhillips in a research note on Friday, August 7th. Mizuho dropped their target price on ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating on the stock in a report on Tuesday, July 7th. UBS Group increased their target price on ConocoPhillips from $143.00 to $153.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Capital One Financial reduced their price target on ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating for the company in a report on Monday, May 18th. Finally, Raymond James Financial lowered their price target on ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating for the company in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.48.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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