Integrated Investment Consultants LLC Sells 241 Shares of ConocoPhillips (NYSE:COP)

Integrated Investment Consultants LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 6.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,564 shares of the energy producer’s stock after selling 241 shares during the period. Integrated Investment Consultants LLC’s holdings in ConocoPhillips were worth $375,000 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 the business. Legal & General Group Plc grew its holdings in ConocoPhillips by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after acquiring an additional 438,241 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of ConocoPhillips by 19.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock valued at $717,093,000 after purchasing an additional 1,101,685 shares during the last quarter. Boston Partners increased its holdings in shares of ConocoPhillips by 10.3% in the first quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock valued at $567,111,000 after purchasing an additional 415,878 shares in the last quarter. Primecap Management Co. CA raised its position in ConocoPhillips by 48.9% in the 3rd quarter. Primecap Management Co. CA now owns 4,320,905 shares of the energy producer’s stock worth $454,905,000 after purchasing an additional 1,418,900 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in ConocoPhillips by 10.1% during the 2nd quarter. Clearbridge Investments LLC now owns 3,546,526 shares of the energy producer’s stock worth $405,652,000 after buying an additional 326,597 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP opened at $111.75 on Friday. The company has a fifty day simple moving average of $108.91 and a 200 day simple moving average of $111.40. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market cap of $128.61 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the company earned $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, research analysts expect that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COP. Susquehanna boosted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. UBS Group dropped their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. BMO Capital Markets upped their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Six research 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 currently has an average rating of “Moderate Buy” and an average target price of $137.63.

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.