Mcrae Capital Management Inc. Has $379,000 Stake in ConocoPhillips (NYSE:COP)

Mcrae Capital Management Inc. lowered its position in ConocoPhillips (NYSE:COP) by 12.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,600 shares of the energy producer’s stock after selling 518 shares during the period. Mcrae Capital Management Inc.’s holdings in ConocoPhillips were worth $379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of COP. First Trust Direct Indexing L.P. boosted its stake in ConocoPhillips by 5.6% in the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after purchasing an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in ConocoPhillips during the 2nd quarter worth about $30,021,000. EP Wealth Advisors LLC grew its holdings in ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after acquiring an additional 4,578 shares during the last quarter. Norden Group LLC increased its position in ConocoPhillips by 2,634.9% in the 1st quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock valued at $15,838,000 after acquiring an additional 119,890 shares in the last quarter. Finally, Alpha DNA Investment Management LLC raised its stake in shares of ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after acquiring an additional 7,490 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the topic of several research analyst reports. Mizuho decreased their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. 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. Barclays decreased their price target on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $136.94.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

ConocoPhillips Trading Up 0.2 %

COP opened at $104.56 on Friday. The firm’s fifty day moving average is $108.47 and its two-hundred day moving average is $113.82. The firm has a market cap of $122.29 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. ConocoPhillips has a twelve month low of $101.29 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.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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 return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter last year, the business posted $1.84 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 7.95 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.22%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.