Pine Valley Investments Ltd Liability Co Lowers Position in ConocoPhillips (NYSE:COP)

Pine Valley Investments Ltd Liability Co trimmed its position in shares of ConocoPhillips (NYSE:COP) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,767 shares of the energy producer’s stock after selling 400 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in ConocoPhillips were worth $818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Fulcrum Equity Management grew its position in ConocoPhillips by 24.1% in the 3rd quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer’s stock worth $625,000 after purchasing an additional 1,155 shares in the last quarter. Anchor Investment Management LLC grew its holdings in shares of ConocoPhillips by 5.5% in the third quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer’s stock valued at $1,192,000 after acquiring an additional 589 shares in the last quarter. Morse Asset Management Inc bought a new stake in ConocoPhillips during the third quarter worth $805,000. Unigestion Holding SA boosted its position in ConocoPhillips by 1.1% in the third quarter. Unigestion Holding SA now owns 225,307 shares of the energy producer’s stock worth $23,718,000 after purchasing an additional 2,378 shares during the last quarter. Finally, Soltis Investment Advisors LLC grew its stake in ConocoPhillips by 1.1% in the 3rd quarter. Soltis Investment Advisors LLC now owns 14,076 shares of the energy producer’s stock valued at $1,482,000 after purchasing an additional 148 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.2 %

NYSE COP opened at $100.92 on Friday. The stock’s 50-day simple moving average is $108.03 and its two-hundred day simple moving average is $109.85. ConocoPhillips has a twelve month low of $100.87 and a twelve month 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 company has a market capitalization of $116.15 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.84 and a beta of 1.18.

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

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COP. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Wells Fargo & Company lifted their price objective on shares of ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a research report on Monday. Susquehanna increased their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $139.18.

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.