Union Bancaire Privee UBP SA Cuts Stock Holdings in ConocoPhillips $COP

Key Points

• Union Bancaire Privee UBP SA reduced its stake in ConocoPhillips by **66.8%**, ending up with 2,792 shares valued at $251,000 as of the latest SEC filing.
• ConocoPhillips reported **earnings per share of $1.42**, exceeding analysts' expectations of $1.36, and revenue reached **$14.94 billion**, above the consensus estimate of $14.39 billion.
• Several institutional investors have significantly increased their holdings in ConocoPhillips, with Clal Insurance Enterprises Holdings Ltd growing its position by **418.6%** during the first quarter.

Union Bancaire Privee UBP SA decreased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 66.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,792 shares of the energy producer's stock after selling 5,625 shares during the period. Union Bancaire Privee UBP SA's holdings in ConocoPhillips were worth $251,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC increased its position in 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 purchasing an additional 222 shares during the period. Stone House Investment Management LLC purchased a new position in ConocoPhillips during the 1st quarter valued at about $31,000. Garde Capital Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter worth approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in shares of ConocoPhillips by 418.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock worth $38,000 after buying an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Up 0.8%

NYSE:COP opened at $95.39 on Thursday. The company has a market cap of $119.13 billion, a PE ratio of 12.80, a P/E/G ratio of 2.49 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company's 50 day moving average is $94.98 and its two-hundred day moving average is $93.00.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for 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%. ConocoPhillips's revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.98 EPS. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's payout ratio is currently 41.88%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada cut their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Morgan Stanley reaffirmed an "overweight" rating and issued a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Scotiabank lifted their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Finally, Raymond James Financial cut their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and an average target price of $120.14.

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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