ConocoPhillips (NYSE:COP) Stock Position Decreased by Kanawha Capital Management LLC

Kanawha Capital Management LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,066 shares of the energy producer’s stock after selling 938 shares during the quarter. Kanawha Capital Management LLC’s holdings in ConocoPhillips were worth $4,008,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Manchester Capital Management LLC boosted its stake in shares of ConocoPhillips by 22.1% during the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after acquiring an additional 86 shares in the last quarter. Vicus Capital boosted its position in shares of ConocoPhillips by 3.7% in the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after buying an additional 94 shares during the period. Montag A & Associates Inc. boosted its position in shares of ConocoPhillips by 2.5% in the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after buying an additional 96 shares during the period. Excalibur Management Corp boosted its position in shares of ConocoPhillips by 2.4% in the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after buying an additional 96 shares during the period. Finally, First Hawaiian Bank boosted its position in shares of ConocoPhillips by 0.3% in the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after buying an additional 97 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Down 1.6 %

COP opened at $107.84 on Monday. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $125.23 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.90 and a beta of 1.21. The business has a 50 day moving average of $107.94 and a 200-day moving average of $112.80.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the business earned $2.16 earnings per share. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.89%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wolfe Research assumed coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Sanford C. Bernstein decreased their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. UBS Group cut their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Mizuho increased their price objective on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $137.47.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

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.