Chartwell Investment Partners LLC Cuts Stock Holdings in ConocoPhillips (NYSE:COP)

Chartwell Investment Partners LLC cut its stake in ConocoPhillips (NYSE:COP) by 13.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,574 shares of the energy producer’s stock after selling 19,160 shares during the period. Chartwell Investment Partners LLC’s holdings in ConocoPhillips were worth $5,403,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Jackson Hole Capital Partners LLC raised its holdings in shares of ConocoPhillips by 3.0% in the 1st quarter. Jackson Hole Capital Partners LLC now owns 8,693 shares of the energy producer’s stock valued at $268,000 after purchasing an additional 250 shares in the last quarter. Center for Financial Planning Inc. raised its position in shares of ConocoPhillips by 5.3% during the 1st quarter. Center for Financial Planning Inc. now owns 4,991 shares of the energy producer’s stock worth $154,000 after acquiring an additional 252 shares in the last quarter. Laurel Wealth Advisors Inc. lifted its stake in ConocoPhillips by 3.7% during the first quarter. Laurel Wealth Advisors Inc. now owns 7,243 shares of the energy producer’s stock worth $223,000 after purchasing an additional 258 shares during the last quarter. Financial Management Professionals Inc. boosted its holdings in ConocoPhillips by 9.9% in the second quarter. Financial Management Professionals Inc. now owns 2,934 shares of the energy producer’s stock valued at $123,000 after purchasing an additional 265 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in ConocoPhillips by 11.6% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 2,614 shares of the energy producer’s stock valued at $110,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Shares of ConocoPhillips stock opened at $37.39 on Friday. The company has a 50-day moving average of $41.34 and a two-hundred day moving average of $44.25. ConocoPhillips has a 12-month low of $20.84 and a 12-month high of $67.13. The company has a current ratio of 2.69, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The stock has a market cap of $40.10 billion, a PE ratio of 18.42 and a beta of 1.69.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, July 30th. The energy producer reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.34). The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.19 billion. ConocoPhillips had a net margin of 8.49% and a return on equity of 3.72%. During the same period in the previous year, the business earned $1.01 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post -0.32 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Friday, July 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 46.80%.

Several research analysts have recently issued reports on the stock. Cfra cut shares of ConocoPhillips to a “hold” rating and set a $50.00 target price for the company. in a report on Wednesday, June 10th. Piper Sandler raised their price objective on ConocoPhillips from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Mizuho lifted their target price on ConocoPhillips from $37.00 to $46.00 in a research report on Friday, June 19th. Scotiabank reduced their target price on ConocoPhillips from $50.00 to $45.00 and set a “sector perform” rating for the company in a report on Monday, July 13th. Finally, Wells Fargo & Co lifted their price target on ConocoPhillips from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $56.25.

In other ConocoPhillips news, Director David Thomas Seaton acquired 2,400 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of $41.03 per share, with a total value of $98,472.00. Following the purchase, the director now owns 2,500 shares in the company, valued at $102,575. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by insiders.

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.

Recommended Story: How do buyers and sellers choose a strike price?

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.