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

WESPAC Advisors SoCal LLC lowered its position in ConocoPhillips (NYSE:COP) by 5.4% during the second quarter, Holdings Channel reports. The institutional investor owned 10,525 shares of the energy producer’s stock after selling 600 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in ConocoPhillips were worth $642,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of COP. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of ConocoPhillips in the 1st quarter worth approximately $195,526,000. Dimensional Fund Advisors LP grew its position in shares of ConocoPhillips by 28.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,387,748 shares of the energy producer’s stock worth $710,012,000 after buying an additional 2,532,290 shares during the last quarter. PGGM Investments grew its position in shares of ConocoPhillips by 178.2% in the 1st quarter. PGGM Investments now owns 1,844,538 shares of the energy producer’s stock worth $123,104,000 after buying an additional 1,181,408 shares during the last quarter. Schafer Cullen Capital Management Inc grew its position in shares of ConocoPhillips by 38.0% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 2,740,409 shares of the energy producer’s stock worth $169,248,000 after buying an additional 754,411 shares during the last quarter. Finally, Cambiar Investors LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $43,418,000. 72.18% of the stock is currently owned by hedge funds and other institutional investors.

COP has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $74.00 to $80.00 in a research report on Wednesday, June 26th. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, July 17th. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, Zacks Investment Research raised shares of ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 target price on the stock in a research report on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $77.07.

NYSE:COP traded down $1.06 during trading hours on Friday, hitting $54.01. 4,984,414 shares of the company were exchanged, compared to its average volume of 6,222,301. The stock has a market cap of $61.14 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. ConocoPhillips has a 52-week low of $52.30 and a 52-week high of $80.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.64. The company’s 50 day moving average is $59.49.

ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.02). The company had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $9.42 billion. ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 EPS. As a group, equities research analysts predict that ConocoPhillips will post 4.04 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, July 22nd will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, July 19th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.93%.

ConocoPhillips Company 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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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