ConocoPhillips (NYSE:COP) Shares Sold by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co cut its stake in shares of ConocoPhillips (NYSE:COP) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 337,268 shares of the energy producer’s stock after selling 1,832 shares during the period. Varma Mutual Pension Insurance Co’s holdings in ConocoPhillips were worth $38,577,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in COP. Valued Wealth Advisors LLC increased its position in ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its stake in shares of ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after acquiring an additional 85 shares during the period. Manchester Capital Management LLC boosted its position in 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 purchasing an additional 86 shares during the period. Adirondack Trust Co. increased its holdings in ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC increased its holdings in ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips 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 transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $1.43 during trading on Friday, reaching $106.02. The company had a trading volume of 5,229,946 shares, compared to its average volume of 5,660,849. ConocoPhillips has a twelve month low of $102.27 and a twelve month high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The firm has a market capitalization of $123.99 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22. The firm’s fifty day moving average is $111.20 and its 200 day moving average is $117.00.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the previous year, the business earned $1.84 earnings per share. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that ConocoPhillips will post 8.5 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COP shares. Susquehanna dropped their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays raised their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Sanford C. Bernstein cut their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Scotiabank decreased their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $143.24.

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.