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

Entropy Technologies LP trimmed its position in shares of ConocoPhillips (NYSE:COP) by 80.3% during the 3rd quarter, Holdings Channel reports. The firm owned 17,295 shares of the energy producer’s stock after selling 70,456 shares during the period. Entropy Technologies LP’s holdings in ConocoPhillips were worth $1,821,000 at the end of the most recent reporting period.

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

ConocoPhillips Price Performance

COP stock opened at $110.64 on Wednesday. The stock has a market cap of $127.34 billion, a PE ratio of 13.16, a P/E/G ratio of 0.91 and a beta of 1.21. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a 50-day moving average price of $107.69 and a 200 day moving average price of $112.04. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its 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. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the prior year, the firm posted $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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.82%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COP. UBS Group cut their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Sanford C. Bernstein cut their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Wolfe Research initiated coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s 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.

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.