November 10, 2019 at 6:58 pm

Gamble Jones Investment Counsel Reduces Stock Holdings in ConocoPhillips (NYSE:COP)

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Gamble Jones Investment Counsel reduced its stake in ConocoPhillips (NYSE:COP) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,008 shares of the energy producer’s stock after selling 620 shares during the period. Gamble Jones Investment Counsel’s holdings in ConocoPhillips were worth $1,026,000 as of its most recent SEC filing.

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A number of other institutional investors also recently made changes to their positions in the business. Rothschild & Co Wealth Management UK Ltd acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $27,000. Valley National Advisers Inc. boosted its holdings in shares of ConocoPhillips by 64.9% in 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 during the period. Towerpoint Wealth LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $32,000. Manchester Financial Inc. acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $34,000. Finally, AllSquare Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 1,018.0% in 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 during the period. Institutional investors own 71.45% of the company’s stock.

Shares of NYSE COP traded down $0.38 during mid-day trading on Friday, hitting $59.16. 4,699,111 shares of the company were exchanged, compared to its average volume of 5,979,278. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $56.52 and a 200-day simple moving average of $58.08. ConocoPhillips has a 1-year low of $50.13 and a 1-year high of $71.01. The firm has a market cap of $64.20 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, October 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 annualized dividend and a dividend yield of 2.84%. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.09%.

Several equities research analysts have recently weighed in on the company. UBS Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the company from $70.00 to $75.00 in a report on Monday, September 16th. Morgan Stanley decreased their price objective on ConocoPhillips from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Wells Fargo & Co reissued a “buy” rating on shares of ConocoPhillips in a report on Tuesday, October 15th. Baader Bank reissued a “neutral” rating and issued a $52.00 price objective on shares of ConocoPhillips in a report on Tuesday, October 29th. Finally, Bank of America raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $69.81.

About ConocoPhillips

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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