SG Americas Securities LLC Trims Stake in ConocoPhillips (NYSE:COP)

SG Americas Securities LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 43.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,393 shares of the energy producer’s stock after selling 83,219 shares during the period. SG Americas Securities LLC’s holdings in ConocoPhillips were worth $6,176,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Rothschild & Co Wealth Management UK Ltd purchased a new stake in shares of ConocoPhillips in the second quarter worth $27,000. Valley National Advisers Inc. grew its stake in ConocoPhillips by 64.9% during the second quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock valued at $31,000 after acquiring an additional 198 shares in the last quarter. Manchester Financial Inc. purchased a new position in ConocoPhillips during the second quarter valued at $34,000. AllSquare Wealth Management LLC grew its stake in ConocoPhillips by 1,018.0% during the second quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 509 shares in the last quarter. Finally, Prestige Wealth Management Group LLC purchased a new position in ConocoPhillips during the second quarter valued at $38,000. 71.45% of the stock is owned by institutional investors and hedge funds.

Several research firms recently weighed in on COP. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co reaffirmed a “buy” rating on shares of ConocoPhillips in a research note on Tuesday, October 15th. UBS Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the company from $70.00 to $75.00 in a research note on Monday, September 16th. HSBC reaffirmed a “neutral” rating and set a $59.00 target price on shares of ConocoPhillips in a research note on Tuesday, November 5th. Finally, Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $69.81.

Shares of ConocoPhillips stock traded down $0.38 during trading on Friday, hitting $59.16. The stock had a trading volume of 4,699,111 shares, compared to its average volume of 5,979,278. The firm’s fifty day simple moving average is $56.52 and its 200-day simple moving average is $58.08. The stock has a market cap of $64.20 billion, a PE ratio of 13.06, a PEG ratio of 1.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40. ConocoPhillips has a 12 month low of $50.13 and a 12 month high of $71.01.

ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The firm had revenue of $10.09 billion during the quarter, compared to analyst estimates of $7.06 billion. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. During the same quarter last year, the business earned $1.36 EPS. Analysts expect that ConocoPhillips will post 3.62 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, October 17th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, October 16th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.31. ConocoPhillips’s dividend payout ratio (DPR) is 37.09%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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