Lionsbridge Wealth Management LLC Lowers Position in ConocoPhillips (NYSE:COP)

Lionsbridge Wealth Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 0.6% during the third quarter, HoldingsChannel.com reports. The firm owned 20,134 shares of the energy producer’s stock after selling 115 shares during the period. ConocoPhillips comprises approximately 1.7% of Lionsbridge Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Lionsbridge Wealth Management LLC’s holdings in ConocoPhillips were worth $2,120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors increased its holdings in ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after purchasing an additional 1,856,085 shares in the last quarter. International Assets Investment Management LLC raised its position in ConocoPhillips by 10,634.2% in the third quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock valued at $126,933,000 after purchasing an additional 1,194,434 shares during the period. Clearbridge Investments LLC lifted its stake in shares of ConocoPhillips by 46.0% during the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after purchasing an additional 1,015,158 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of ConocoPhillips by 34.7% in the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after buying an additional 712,062 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP stock opened at $111.63 on Friday. The firm has a market cap of $128.48 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.93 and a beta of 1.21. The stock’s 50 day simple moving average is $107.73 and its 200 day simple moving average is $112.40. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the firm posted $2.16 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts predict that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s payout ratio is presently 27.59%.

Wall Street Analyst Weigh In

Several brokerages recently commented on COP. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Sanford C. Bernstein reduced their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Mizuho raised their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Barclays boosted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $137.47.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

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.