Murphy Pohlad Asset Management LLC Sells 1,650 Shares of ConocoPhillips (NYSE:COP)

Murphy Pohlad Asset Management LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,961 shares of the energy producer’s stock after selling 1,650 shares during the period. ConocoPhillips makes up approximately 3.1% of Murphy Pohlad Asset Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Murphy Pohlad Asset Management LLC’s holdings in ConocoPhillips were worth $7,087,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sachetta LLC acquired a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Cooksen Wealth LLC purchased a new position in shares of ConocoPhillips in the fourth quarter worth about $27,000. Cape Investment Advisory Inc. raised its stake in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips during the first quarter worth about $31,000. Finally, Northwest Bank & Trust Co purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $32,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on COP shares. Barclays boosted their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Royal Bank of Canada lifted their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. UBS Group lowered their price objective on ConocoPhillips from $159.00 to $151.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.53.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $0.05 during trading on Friday, reaching $111.18. The stock had a trading volume of 3,818,882 shares, compared to its average volume of 5,710,849. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18. The stock has a market cap of $129.11 billion, a PE ratio of 12.55, a PEG ratio of 2.16 and a beta of 1.24. The business has a fifty day moving average price of $111.57 and a 200-day moving average price of $116.98.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 8.68 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be given a $0.58 dividend. The ex-dividend date is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.09%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

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.