Amundi Decreases Stock Position in ConocoPhillips $COP

Amundi decreased its position in ConocoPhillips (NYSE:COP) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,745,949 shares of the energy producer’s stock after selling 191,949 shares during the quarter. Amundi owned 0.38% of ConocoPhillips worth $448,207,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in COP. Heartland Bank & Trust Co increased its holdings in shares of ConocoPhillips by 97.2% during the second quarter. Heartland Bank & Trust Co now owns 6,861 shares of the energy producer’s stock valued at $616,000 after purchasing an additional 3,381 shares during the period. Aberdeen Group plc lifted its holdings in ConocoPhillips by 49.3% in the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after purchasing an additional 264,726 shares during the period. Everpar Advisors LLC lifted its holdings in ConocoPhillips by 138.7% in the second quarter. Everpar Advisors LLC now owns 10,413 shares of the energy producer’s stock worth $934,000 after purchasing an additional 6,051 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after buying an additional 22,827 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in ConocoPhillips by 2.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock valued at $304,716,000 after buying an additional 78,642 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 0.7%

Shares of NYSE COP opened at $93.73 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $106.20. The company has a market cap of $115.82 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 2.10 and a beta of 0.32. The business has a fifty day simple moving average of $89.54 and a 200-day simple moving average of $91.78.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. During the same quarter last year, the business posted $1.78 EPS. ConocoPhillips’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a dividend of $0.84 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

Insider Activity at ConocoPhillips

In other news, Director William H. Mcraven acquired 5,768 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on COP. Capital One Financial upped their price target on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Johnson Rice cut ConocoPhillips from an “accumulate” rating to a “hold” rating and dropped their target price for the stock from $108.00 to $105.00 in a report on Friday. Sanford C. Bernstein upped their target price on ConocoPhillips from $115.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. BMO Capital Markets decreased their price target on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Monday. Nineteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $114.77.

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.