Scott & Selber Inc. Trims Stake in ConocoPhillips (NYSE:COP)

Scott & Selber Inc. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 0.5% in the third quarter, Holdings Channel reports. The firm owned 23,288 shares of the energy producer’s stock after selling 111 shares during the period. Scott & Selber Inc.’s holdings in ConocoPhillips were worth $2,452,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of COP. Vicus Capital grew its position in shares of ConocoPhillips by 3.7% in the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after acquiring an additional 94 shares in the last quarter. Montag A & Associates Inc. lifted its position in ConocoPhillips by 2.5% in the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after purchasing an additional 96 shares during the last quarter. Excalibur Management Corp boosted its position in shares of ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after buying an additional 96 shares during the period. First Hawaiian Bank raised its stake in shares of ConocoPhillips by 0.3% during the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock valued at $4,202,000 after purchasing an additional 97 shares in the last quarter. Finally, Bank OZK raised its holdings in ConocoPhillips by 1.6% during the second quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock worth $715,000 after purchasing an additional 97 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 0.0 %

NYSE COP opened at $111.59 on Friday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The business has a fifty day moving average price of $107.73 and a two-hundred day moving average price of $112.40. The stock has a market capitalization of $128.43 billion, a PE ratio of 13.27, a PEG ratio of 0.93 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter last year, the business earned $2.16 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.80%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is presently 27.59%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

COP has been the subject of several recent research reports. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Barclays lifted their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Mizuho lifted their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. 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 company. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.47.

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.