November 10, 2019 at 5:24 pm

SG Americas Securities LLC Cuts Stock Position in ConocoPhillips (NYSE:COP)

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SG Americas Securities LLC lowered its position in ConocoPhillips (NYSE:COP) by 43.4% during the third quarter, according to the company in its most recent filing with the Securities & 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 as of its most recent SEC filing.

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Several other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP boosted its stake in ConocoPhillips by 71.3% in the 2nd quarter. Marshall Wace LLP now owns 305,359 shares of the energy producer’s stock worth $18,628,000 after purchasing an additional 127,136 shares in the last quarter. WINTON GROUP Ltd boosted its stake in ConocoPhillips by 103.2% in the 2nd quarter. WINTON GROUP Ltd now owns 348,948 shares of the energy producer’s stock worth $21,286,000 after purchasing an additional 177,213 shares in the last quarter. Anchor Bolt Capital LP acquired a new stake in ConocoPhillips in the 2nd quarter worth approximately $10,401,000. NEXT Financial Group Inc boosted its stake in ConocoPhillips by 18.1% in the 2nd quarter. NEXT Financial Group Inc now owns 15,677 shares of the energy producer’s stock worth $956,000 after purchasing an additional 2,404 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. boosted its stake in ConocoPhillips by 15.7% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 9,144 shares of the energy producer’s stock worth $558,000 after purchasing an additional 1,240 shares in the last quarter. 71.45% of the stock is currently owned by hedge funds and other institutional investors.

NYSE COP traded down $0.38 on Friday, hitting $59.16. 4,699,111 shares of the company’s stock traded hands, compared to its average volume of 5,979,278. The company has a current ratio of 2.56, a quick ratio of 2.40 and a debt-to-equity ratio of 0.42. ConocoPhillips has a 1-year low of $50.13 and a 1-year high of $71.01. The firm’s 50-day moving average price is $56.52 and its two-hundred day moving average price is $58.08. The firm has a market capitalization of $64.20 billion, a PE ratio of 13.06, a P/E/G ratio of 1.70 and a beta of 1.05.

ConocoPhillips (NYSE:COP) last posted its earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. The firm had revenue of $10.09 billion during the quarter, compared to analysts’ expectations of $7.06 billion. During the same period in the previous year, the business posted $1.36 EPS. On average, research analysts anticipate 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. Investors of record on Thursday, October 17th will be paid a $0.42 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, October 16th. ConocoPhillips’s payout ratio is currently 37.09%.

COP has been the subject of a number of recent analyst reports. UBS Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $75.00 in a research note on Monday, September 16th. Barclays initiated coverage on shares of ConocoPhillips in a research note on Monday, August 19th. They issued an “overweight” rating and a $79.00 target price for the company. Morgan Stanley lowered their target price on shares of ConocoPhillips from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Goldman Sachs Group set a $67.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, HSBC reiterated a “neutral” rating and issued a $59.00 target price on shares of ConocoPhillips in a research note on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $69.81.

ConocoPhillips 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.

Further Reading: Intrinsic Value

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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