Moody Aldrich Partners LLC Has $1.67 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Moody Aldrich Partners LLC trimmed its position in shares of ConocoPhillips (NYSE:COP) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,856 shares of the energy producer’s stock after selling 176 shares during the quarter. Moody Aldrich Partners LLC’s holdings in ConocoPhillips were worth $1,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. First Trust Direct Indexing L.P. increased its stake in shares of ConocoPhillips by 5.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after buying an additional 1,390 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $30,021,000. EP Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after buying an additional 4,578 shares during the last quarter. Norden Group LLC lifted its holdings in ConocoPhillips by 2,634.9% in the first quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock valued at $15,838,000 after buying an additional 119,890 shares during the period. Finally, Alpha DNA Investment Management LLC increased its stake in shares of ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after purchasing an additional 7,490 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Susquehanna dropped their price objective on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Scotiabank decreased their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.94.

ConocoPhillips Stock Performance

NYSE:COP traded down $0.69 during trading hours on Thursday, reaching $103.82. The stock had a trading volume of 576,241 shares, compared to its average volume of 5,881,665. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock has a 50 day simple moving average of $108.74 and a 200 day simple moving average of $114.21. The stock has a market cap of $120.56 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion for 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 quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 earnings per share. On average, research analysts forecast that ConocoPhillips will post 7.95 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is currently 25.86%.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated 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 owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

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.