TBH Global Asset Management LLC Lowers Stock Holdings in ConocoPhillips $COP

Key Points

• TBH Global Asset Management LLC reduced its holdings in ConocoPhillips by 36.1% during the second quarter, now owning 16,354 shares worth approximately $1.47 million.
• Several institutional investors have increased their stakes in ConocoPhillips, with Financial Network Wealth Advisors LLC boosting its holdings by over 341%.
• Analysts have varied target price ratings for ConocoPhillips, with a consensus rating of "Moderate Buy" and a target price of $120.14.

TBH Global Asset Management LLC lessened its holdings in ConocoPhillips (NYSE:COP - Free Report) by 36.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 16,354 shares of the energy producer's stock after selling 9,242 shares during the period. TBH Global Asset Management LLC's holdings in ConocoPhillips were worth $1,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Financial Network Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC bought a new stake in ConocoPhillips during the 1st quarter valued at approximately $31,000. Garde Capital Inc. purchased a new position in ConocoPhillips in the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. bought a new position in ConocoPhillips in the 1st quarter worth approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in 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 buying an additional 293 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of several research analyst reports. Wells Fargo & Company reissued an "overweight" rating and issued a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Royal Bank Of Canada reduced their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a report on Friday, July 11th. UBS Group increased their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Susquehanna cut their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, Scotiabank lifted their target price on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.14.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $98.47 on Friday. The firm has a fifty day simple moving average of $94.85 and a two-hundred day simple moving average of $93.02. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $122.98 billion, a P/E ratio of 13.22, a PEG ratio of 2.59 and a beta of 0.69.

ConocoPhillips (NYSE:COP - Get Free Report) last announced 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. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.98 EPS. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is presently 41.88%.

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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