Mitchell Capital Management Co. Decreases Holdings in ConocoPhillips $COP

Key Points

• Mitchell Capital Management Co. reduced its stake in ConocoPhillips by 9.2% during the second quarter, leaving it with 45,692 shares valued at approximately $4.19 million.
• The company reported $1.42 earnings per share for the most recent quarter, exceeding analyst expectations, with revenue of $14.94 billion.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, resulting in an annualized dividend yield of 3.6% for investors.

Mitchell Capital Management Co. decreased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 9.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,692 shares of the energy producer's stock after selling 4,616 shares during the period. Mitchell Capital Management Co.'s holdings in ConocoPhillips were worth $4,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. LRI Investments LLC lifted its position in ConocoPhillips by 15.5% during the second quarter. LRI Investments LLC now owns 2,966 shares of the energy producer's stock valued at $266,000 after acquiring an additional 399 shares during the last quarter. SPC Financial Inc. lifted its position in ConocoPhillips by 5.3% during the second quarter. SPC Financial Inc. now owns 4,769 shares of the energy producer's stock valued at $428,000 after acquiring an additional 239 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in ConocoPhillips by 17.4% during 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 acquiring an additional 22,827 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in ConocoPhillips by 11.5% during the second quarter. Concurrent Investment Advisors LLC now owns 69,265 shares of the energy producer's stock valued at $6,216,000 after acquiring an additional 7,163 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its position in ConocoPhillips by 6.8% during the second quarter. Apollon Wealth Management LLC now owns 29,319 shares of the energy producer's stock valued at $2,631,000 after acquiring an additional 1,874 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 4.5%

Shares of ConocoPhillips stock opened at $87.83 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a fifty day moving average price of $94.60 and a 200 day moving average price of $92.44. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The stock has a market cap of $109.70 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62.

ConocoPhillips (NYSE:COP - Get Free Report) last issued 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 net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. During the same quarter last year, the company posted $1.98 earnings per share. The firm's revenue was up 4.3% compared to the same quarter last year. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is 41.88%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Wells Fargo & Company reissued an "overweight" rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Wall Street Zen raised shares of ConocoPhillips from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Royal Bank Of Canada decreased their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a report on Friday, July 11th. Capital One Financial raised their price target on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Finally, UBS Group raised their price target on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.52.

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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