Schulhoff & Co. Inc. Sells 500 Shares of ConocoPhillips (NYSE:COP)

Schulhoff & Co. Inc. cut its stake in ConocoPhillips (NYSE:COP) by 17.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,398 shares of the energy producer’s stock after selling 500 shares during the period. Schulhoff & Co. Inc.’s holdings in ConocoPhillips were worth $274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in ConocoPhillips by 512.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after buying an additional 3,127,165 shares in the last quarter. Capital International Investors increased its holdings in ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after buying an additional 1,856,085 shares during the period. Clearbridge Investments LLC raised its stake in shares of ConocoPhillips by 46.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock valued at $409,833,000 after buying an additional 1,015,158 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ConocoPhillips by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock worth $1,907,542,000 after acquiring an additional 826,529 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP stock opened at $103.50 on Friday. The company has a 50 day moving average price of $110.16 and a 200 day moving average price of $116.70. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The stock has a market capitalization of $120.19 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 earnings per share. Analysts forecast that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COP. Scotiabank lowered their target price on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Bank of America reissued a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Sanford C. Bernstein lowered their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Barclays lifted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.24.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips 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.