Saturna Capital Corp Sells 14,659 Shares of ConocoPhillips $COP

Saturna Capital Corp lowered its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 74.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,025 shares of the energy producer's stock after selling 14,659 shares during the quarter. Saturna Capital Corp's holdings in ConocoPhillips were worth $451,000 at the end of the most recent reporting period.

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Several other hedge funds have also added to or reduced their stakes in COP. Bogart Wealth LLC lifted its position in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer's stock valued at $28,000 after purchasing an additional 182 shares during the period. Activest Wealth Management raised its stake in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer's stock worth $29,000 after buying an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new position in ConocoPhillips in the first quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. bought a new position in ConocoPhillips in the first quarter valued at approximately $37,000. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of COP opened at $89.64 on Wednesday. The stock has a 50 day simple moving average of $90.83 and a 200 day simple moving average of $91.93. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market capitalization of $110.77 billion, a PE ratio of 12.03, a P/E/G ratio of 2.36 and a beta of 0.58.

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ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The business's revenue was up 14.1% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. This is a boost from ConocoPhillips's previous quarterly dividend of $0.78. ConocoPhillips's dividend payout ratio (DPR) is currently 47.52%.

Wall Street Analysts Forecast Growth

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COP has been the topic of a number of analyst reports. Evercore ISI cut their price target on ConocoPhillips from $115.00 to $111.00 and set an "outperform" rating on the stock in a research note on Monday, October 6th. Wells Fargo & Company initiated coverage on ConocoPhillips in a research note on Friday, October 17th. They issued an "equal weight" rating and a $100.00 target price on the stock. Raymond James Financial lowered their price target on ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Mizuho cut their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Finally, Barclays decreased their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, October 7th. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price of $115.33.

Check Out Our Latest Report on COP

Insider Transactions at ConocoPhillips

In other news, Director William H. Mcraven purchased 5,768 shares of the company's stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director directly owned 5,768 shares of the company's stock, valued at $499,970.24. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.24% of the company's stock.

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.

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