Hamlin Capital Management LLC Cuts Position in ConocoPhillips $COP

Key Points

• Hamlin Capital Management LLC reduced its holdings in ConocoPhillips by 11.6%, bringing its ownership to approximately 1.53 million shares, which are now valued at around $136.9 million.
• ConocoPhillips reported $1.42 EPS for the last quarter, exceeding analysts' expectations and had a revenue of $14.94 billion, showing a year-over-year increase of 4.3%.
• ConocoPhillips recently declared a quarterly dividend of $0.78 per share, yielding 3.6% annually, with an implied dividend payout ratio of 41.88%.

Hamlin Capital Management LLC decreased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 11.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,525,477 shares of the energy producer's stock after selling 200,705 shares during the period. ConocoPhillips makes up about 3.2% of Hamlin Capital Management LLC's investment portfolio, making the stock its 20th largest position. Hamlin Capital Management LLC owned 0.12% of ConocoPhillips worth $136,896,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Schwartz Investment Counsel Inc. grew its stake in shares of ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after buying an additional 30,000 shares in the last quarter. Aberdeen Group plc grew its stake in shares of ConocoPhillips by 49.3% in the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock valued at $83,969,000 after buying an additional 264,726 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of ConocoPhillips by 17.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer's stock valued at $13,927,000 after buying an additional 22,827 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of ConocoPhillips by 17.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer's stock valued at $3,924,000 after buying an additional 5,627 shares in the last quarter. Finally, Lynx Investment Advisory grew its stake in shares of ConocoPhillips by 316.6% in the first quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer's stock valued at $1,131,000 after buying an additional 8,184 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.4%

Shares of COP opened at $86.53 on Friday. The company has a market capitalization of $108.07 billion, a P/E ratio of 11.61, a P/E/G ratio of 2.33 and a beta of 0.62. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a 50-day moving average price of $94.04 and a 200 day moving average price of $92.03.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS 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 the consensus estimate of $14.39 billion. During the same quarter in the prior year, the business posted $1.98 earnings per share. ConocoPhillips's revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced 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. This represents a $3.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COP shares. Roth Capital lowered their target price on ConocoPhillips from $108.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday. Susquehanna lowered their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Raymond James Financial lowered their target price on ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Weiss Ratings reissued a "hold (c-)" rating on shares of ConocoPhillips in a report on Wednesday, October 8th. Finally, Melius Research began coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price target for the company. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $115.00.

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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