Transcendent Capital Group LLC Sells 113 Shares of ConocoPhillips (NYSE:COP)

Transcendent Capital Group LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,296 shares of the energy producer’s stock after selling 113 shares during the quarter. Transcendent Capital Group LLC’s holdings in ConocoPhillips were worth $136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new position in ConocoPhillips in the second quarter worth about $30,021,000. EP Wealth Advisors LLC increased its position in shares of ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after purchasing an additional 4,578 shares during the last quarter. Alpha DNA Investment Management LLC increased its position in shares of ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after purchasing an additional 7,490 shares during the last quarter. TCW Group Inc. lifted its position in ConocoPhillips by 37.8% in the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after buying an additional 8,231 shares during the last quarter. Finally, Doheny Asset Management CA purchased a new position in ConocoPhillips during the second quarter worth $815,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 0.0 %

NYSE:COP opened at $111.59 on Friday. The company’s 50-day simple moving average is $107.73 and its 200-day simple moving average is $112.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market capitalization of $128.43 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.93 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. During the same period last year, the firm earned $2.16 earnings per share. On average, equities analysts anticipate that ConocoPhillips will post 7.8 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 given a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 27.59%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent analyst reports. UBS Group reduced their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Barclays increased their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Mizuho lifted their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.47.

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.