Focus Financial Network Inc. Has $557,000 Stock Position in ConocoPhillips (NYSE:COP)

Focus Financial Network Inc. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 37.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,294 shares of the energy producer’s stock after selling 3,161 shares during the quarter. Focus Financial Network Inc.’s holdings in ConocoPhillips were worth $557,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ruedi Wealth Management Inc. grew its position in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after buying an additional 150 shares during the period. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth about $26,000. Stephens Consulting LLC grew its position in shares of ConocoPhillips by 69.3% during the 2nd 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 acquired a new position in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of ConocoPhillips during the 2nd quarter worth about $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 1.6 %

Shares of ConocoPhillips stock opened at $107.84 on Friday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The stock has a market cap of $125.23 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.90 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $107.94 and its 200-day moving average is $112.90.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for 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 firm’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 EPS. Equities research analysts predict that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.89%. ConocoPhillips’s payout ratio is presently 37.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on COP shares. UBS Group decreased their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Mizuho boosted their price objective on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Barclays boosted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by insiders.

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.