ConocoPhillips (NYSE:COP) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP decreased its position in ConocoPhillips (NYSE:COP) by 25.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,158 shares of the energy producer’s stock after selling 5,269 shares during the quarter. Aigen Investment Management LP’s holdings in ConocoPhillips were worth $1,596,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in COP. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $26,000. Stephens Consulting LLC increased its stake in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the third quarter worth approximately $31,000. Y.D. More Investments Ltd purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $35,000. Finally, Fairway Wealth LLC boosted its holdings in shares of ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after buying an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on COP. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Sanford C. Bernstein reduced their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Scotiabank dropped their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, Mizuho increased their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.47.

ConocoPhillips Trading Up 0.2 %

Shares of NYSE:COP traded up $0.27 during midday trading on Tuesday, reaching $112.32. The company’s stock had a trading volume of 302,034 shares, compared to its average volume of 5,874,817. The business has a 50 day moving average price of $107.69 and a 200 day moving average price of $112.04. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The firm has a market cap of $129.27 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion during 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%. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 earnings per share. Research analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.78%. ConocoPhillips’s dividend payout ratio (DPR) 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.