Entropy Technologies LP Sells 70,456 Shares of ConocoPhillips (NYSE:COP)

Entropy Technologies LP cut its position in shares of ConocoPhillips (NYSE:COP) by 80.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,295 shares of the energy producer’s stock after selling 70,456 shares during the quarter. Entropy Technologies LP’s holdings in ConocoPhillips were worth $1,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of ConocoPhillips by 4.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 50,075 shares of the energy producer’s stock worth $6,374,000 after acquiring an additional 2,041 shares in the last quarter. Texas Yale Capital Corp. increased its stake in shares of ConocoPhillips by 8.9% during the first quarter. Texas Yale Capital Corp. now owns 2,170 shares of the energy producer’s stock valued at $276,000 after purchasing an additional 177 shares in the last quarter. D Orazio & Associates Inc. purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $257,000. TBH Global Asset Management LLC boosted its position in shares of ConocoPhillips by 34.5% in the 1st quarter. TBH Global Asset Management LLC now owns 28,486 shares of the energy producer’s stock worth $3,626,000 after purchasing an additional 7,308 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its position in shares of ConocoPhillips by 1.8% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 72,706 shares of the energy producer’s stock worth $9,254,000 after purchasing an additional 1,277 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

NYSE COP opened at $110.64 on Wednesday. The company has a 50-day moving average price of $107.69 and a 200-day moving average price of $112.04. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $127.34 billion, a P/E ratio of 13.16, a PEG ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the firm earned $2.16 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. Equities research analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.82%. ConocoPhillips’s payout ratio is 37.10%.

Analysts Set New Price Targets

A number of brokerages have issued reports on COP. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Sanford C. Bernstein dropped their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wolfe Research began coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Finally, BMO Capital Markets raised their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Company Profile

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.