ConocoPhillips (NYSE:COP) Position Trimmed by Saturna Capital Corp

Saturna Capital Corp trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 3.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,045 shares of the energy producer’s stock after selling 570 shares during the period. Saturna Capital Corp’s holdings in ConocoPhillips were worth $1,900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vicus Capital boosted its stake in ConocoPhillips by 3.7% in the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after purchasing an additional 94 shares during the period. Montag A & Associates Inc. boosted its stake in ConocoPhillips by 2.5% in the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after purchasing an additional 96 shares during the period. Excalibur Management Corp boosted its stake in ConocoPhillips by 2.4% in the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after purchasing an additional 96 shares during the period. First Hawaiian Bank boosted its stake in ConocoPhillips by 0.3% in the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after purchasing an additional 97 shares during the period. Finally, Bank OZK boosted its stake in ConocoPhillips by 1.6% in the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock worth $715,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $111.00 on Wednesday. The company has a market capitalization of $127.75 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company’s fifty day moving average price is $107.71 and its 200 day moving average price is $111.90.

ConocoPhillips (NYSE:COP) last announced its 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 for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 EPS. As a group, analysts expect that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.81%. 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. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Analysts Set New Price Targets

A number of equities analysts recently commented on COP shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Barclays increased their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Sanford C. Bernstein cut their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, BMO Capital Markets increased their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

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.