Mutual of America Capital Management LLC Sells 3,915 Shares of ConocoPhillips $COP

Key Points

• Mutual of America Capital Management LLC has reduced its holdings in ConocoPhillips by 2.4%, selling 3,915 shares and owning 162,207 shares worth approximately $14.56 million at the end of the last quarter.
• Several hedge funds have increased their stakes in ConocoPhillips, with Wealth Enhancement Advisory Services LLC raising their stake by 14.6% and CWA Asset Management Group LLC by 59.7% in the first quarter.
• Analysts have set new price targets for ConocoPhillips, with most ranging from $100.00 to $117.00, and the stock has received various ratings including "hold" and "overweight" from different research firms.

Mutual of America Capital Management LLC decreased its position in ConocoPhillips (NYSE:COP - Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 162,207 shares of the energy producer's stock after selling 3,915 shares during the period. Mutual of America Capital Management LLC's holdings in ConocoPhillips were worth $14,556,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in COP. Wealth Enhancement Advisory Services LLC lifted its stake in ConocoPhillips by 14.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 269,154 shares of the energy producer's stock valued at $28,267,000 after buying an additional 34,284 shares during the period. CWA Asset Management Group LLC lifted its stake in ConocoPhillips by 59.7% in the first quarter. CWA Asset Management Group LLC now owns 5,587 shares of the energy producer's stock valued at $587,000 after buying an additional 2,089 shares during the period. Silver Oak Securities Incorporated lifted its stake in ConocoPhillips by 28.3% in the first quarter. Silver Oak Securities Incorporated now owns 2,676 shares of the energy producer's stock valued at $274,000 after buying an additional 591 shares during the period. Advisor Resource Council acquired a new position in ConocoPhillips in the first quarter valued at about $1,131,000. Finally, Evanson Asset Management LLC lifted its stake in ConocoPhillips by 10.6% in the first quarter. Evanson Asset Management LLC now owns 2,668 shares of the energy producer's stock valued at $280,000 after buying an additional 255 shares during the period. Institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on COP. Wells Fargo & Company began coverage on ConocoPhillips in a research note on Friday. They issued an "equal weight" rating and a $100.00 target price on the stock. Melius began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price target on the stock. Barclays dropped their price target on ConocoPhillips from $122.00 to $118.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 7th. Wall Street Zen lowered ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Scotiabank raised their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Seventeen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $115.00.

ConocoPhillips Stock Down 0.4%

Shares of ConocoPhillips stock opened at $86.53 on Friday. The business's 50 day simple moving average is $94.04 and its 200 day simple moving average is $91.93. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The firm has a market cap of $108.07 billion, a PE ratio of 11.61, a P/E/G ratio of 2.32 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (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 business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the firm earned $1.98 EPS. ConocoPhillips's revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. 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%.

About ConocoPhillips

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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