IFC Advisors LLC Sells 17,956 Shares of ConocoPhillips $COP

Key Points

• IFC Advisors LLC reduced its stake in ConocoPhillips (COP) by 46.6%, selling 17,956 shares, leaving it with 20,604 shares valued at $1,849,000.
• Various hedge funds have increased their positions, with Clal Insurance raising their stake by 418.6% in the first quarter, contributing to 82.36% of shares being held by institutional investors.
• Analysts have increased their price targets for ConocoPhillips, with Wells Fargo setting a target of $117.00, while the company has a consensus rating of "Moderate Buy" and a target price of $117.65.

IFC Advisors LLC reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 46.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,604 shares of the energy producer's stock after selling 17,956 shares during the period. IFC Advisors LLC's holdings in ConocoPhillips were worth $1,849,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC grew its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $31,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $35,000. IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock valued at $38,000 after acquiring an additional 293 shares during the period. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on COP shares. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. JPMorgan Chase & Co. raised their price objective on shares of ConocoPhillips from $114.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, October 9th. Scotiabank raised their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Wall Street Zen raised shares of ConocoPhillips from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Finally, Royal Bank Of Canada raised their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an "outperform" rating in a report on Monday. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.65.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $88.77 on Tuesday. The stock has a market cap of $110.87 billion, a PE ratio of 11.92, a PEG ratio of 2.33 and a beta of 0.62. The company's fifty day moving average is $94.52 and its 200 day moving average is $92.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 3.5%. The ex-dividend date was Monday, August 18th. ConocoPhillips's payout ratio is currently 41.88%.

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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