Farmers & Merchants Investments Inc. Reduces Holdings in ConocoPhillips $COP

Key Points

• Farmers & Merchants Investments Inc. reduced its holdings in ConocoPhillips by 3.8% in the second quarter, now owning 101,078 shares worth approximately $9.07 million.
• Other investors like Lewis Asset Management LLC and Vanguard Capital Wealth Advisors have increased their positions significantly by 35.4% and 119.7%, respectively, showing positive institutional interest in ConocoPhillips.
• ConocoPhillips recently reported earnings of $1.42 EPS, exceeding estimates, and declared a quarterly dividend of $0.78 per share, demonstrating strong financial performance amidst active trading.

Farmers & Merchants Investments Inc. trimmed its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 3.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,078 shares of the energy producer's stock after selling 4,036 shares during the quarter. Farmers & Merchants Investments Inc.'s holdings in ConocoPhillips were worth $9,071,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Lewis Asset Management LLC increased its position in shares of ConocoPhillips by 35.4% during the second quarter. Lewis Asset Management LLC now owns 2,706 shares of the energy producer's stock worth $243,000 after purchasing an additional 707 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of ConocoPhillips by 8.9% during the second quarter. Park Avenue Securities LLC now owns 40,744 shares of the energy producer's stock worth $3,656,000 after purchasing an additional 3,346 shares in the last quarter. Vanguard Capital Wealth Advisors increased its position in shares of ConocoPhillips by 119.7% during the second quarter. Vanguard Capital Wealth Advisors now owns 6,700 shares of the energy producer's stock worth $601,000 after purchasing an additional 3,650 shares in the last quarter. Meriwether Wealth & Planning LLC increased its position in shares of ConocoPhillips by 2.7% during the second quarter. Meriwether Wealth & Planning LLC now owns 10,688 shares of the energy producer's stock worth $959,000 after purchasing an additional 282 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of ConocoPhillips by 10.8% during the second quarter. Farther Finance Advisors LLC now owns 30,166 shares of the energy producer's stock worth $2,707,000 after purchasing an additional 2,930 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

COP opened at $91.89 on Monday. The stock's 50-day moving average price is $94.59 and its 200 day moving average price is $92.97. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. 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 firm has a market cap of $114.77 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 2.42 and a beta of 0.69.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the company earned $1.98 EPS. ConocoPhillips's revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on COP shares. Susquehanna dropped their price target on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Mizuho dropped 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. Raymond James Financial dropped their target price on ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, September 8th. Melius Research initiated coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price for the company. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $120.62.

ConocoPhillips 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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