Amalgamated Bank Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Amalgamated Bank cut its holdings in ConocoPhillips (NYSE:COP) by 3.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 236,370 shares of the energy producer’s stock after selling 8,355 shares during the quarter. Amalgamated Bank’s holdings in ConocoPhillips were worth $27,036,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sachetta LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at about $27,000. Cooksen Wealth LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at about $27,000. Cape Investment Advisory Inc. raised its stake in ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares during the last quarter. Stephens Consulting LLC raised 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 buying an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in ConocoPhillips in the first quarter valued at about $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 2.6 %

Shares of COP opened at $108.30 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The stock’s 50 day moving average is $109.97 and its two-hundred day moving average is $116.64. The firm has a market cap of $125.76 billion, a P/E ratio of 12.27, a PEG ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $1.84 earnings per share. Analysts predict that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Analyst Ratings Changes

COP has been the subject of a number of research analyst reports. Scotiabank decreased their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group raised their price objective on ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, Wells Fargo & Company reduced their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $143.06.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred 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 sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.