Beacon Investment Advisory Services Inc. Sells 2,172 Shares of ConocoPhillips (NYSE:COP)

Beacon Investment Advisory Services Inc. cut its holdings in ConocoPhillips (NYSE:COP) by 3.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 70,163 shares of the energy producer’s stock after selling 2,172 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in ConocoPhillips were worth $7,387,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $26,000. Stephens Consulting LLC boosted its stake in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the period. Reston Wealth Management LLC purchased a new position in ConocoPhillips during the third quarter worth $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips during the third quarter valued at $31,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of ConocoPhillips in the second quarter valued at $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $108.34 on Monday. The firm has a 50 day moving average of $108.77 and a 200 day moving average of $110.72. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $124.69 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly 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 during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 EPS. On average, sell-side analysts predict that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company 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 dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.88%. 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 Analysts Forecast Growth

A number of research firms recently commented on COP. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, Barclays upped their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $137.63.

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.