Bank Julius Baer & Co. Ltd Zurich Sells 114,720 Shares of ConocoPhillips $COP

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 6.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,545,972 shares of the energy producer’s stock after selling 114,720 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.12% of ConocoPhillips worth $139,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Charles Schwab Investment Management Inc. increased its holdings in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Nuveen LLC acquired a new position in shares of ConocoPhillips during the first quarter worth about $658,981,000. Primecap Management Co. CA grew its holdings in shares of ConocoPhillips by 66.0% during the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after buying an additional 3,135,315 shares in the last quarter. AQR Capital Management LLC raised its position in ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after buying an additional 3,058,505 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after buying an additional 2,080,625 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on COP shares. Melius Research started coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Raymond James Financial reduced their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Susquehanna decreased their target price on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Wolfe Research reiterated an “outperform” rating and issued a $131.00 price target on shares of ConocoPhillips in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.16.

ConocoPhillips Stock Up 0.4%

Shares of COP stock opened at $87.69 on Tuesday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $111.96. The stock has a market cap of $108.36 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.36 and a beta of 0.58. The firm’s 50-day moving average is $90.38 and its 200-day moving average is $91.92. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same quarter in the prior year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $0.84 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, November 17th. ConocoPhillips’s dividend payout ratio is presently 47.52%.

Insider Activity

In related news, Director William H. Mcraven bought 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the purchase, the director owned 5,768 shares in the company, valued at $499,970.24. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Company 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.