Sanctuary Advisors LLC Cuts Stock Position in ConocoPhillips (NYSE:COP)

Sanctuary Advisors LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 249,200 shares of the energy producer's stock after selling 6,101 shares during the quarter. Sanctuary Advisors LLC's holdings in ConocoPhillips were worth $27,848,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of COP. Values First Advisors Inc. acquired a new position in ConocoPhillips during the third quarter worth $26,000. Stephens Consulting LLC increased its holdings in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer's stock worth $29,000 after buying an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new position in ConocoPhillips in the third quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd purchased a new position in ConocoPhillips in the second quarter worth approximately $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on COP. UBS Group decreased their target price on ConocoPhillips from $153.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, September 18th. Susquehanna increased their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a report on Friday, November 1st. Scotiabank decreased their price target on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, October 10th. Wells Fargo & Company increased their price objective on ConocoPhillips from $131.00 to $134.00 and gave the company an "overweight" rating in a report on Monday. Finally, BMO Capital Markets upped their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and an average price target of $139.18.

ConocoPhillips Price Performance

ConocoPhillips stock traded up $1.04 during trading hours on Friday, hitting $101.95. The stock had a trading volume of 2,584,855 shares, compared to its average volume of 6,001,760. The stock has a market capitalization of $117.34 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1-year low of $100.58 and a 1-year high of $135.18. The stock's fifty day moving average is $108.03 and its two-hundred day moving average is $109.85.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company's quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 earnings per share. As a group, analysts predict that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a dividend of $0.78 per share. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. ConocoPhillips's dividend payout ratio is presently 37.10%.

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.