Aigen Investment Management LP Cuts Stock Position in ConocoPhillips (NYSE:COP)

Aigen Investment Management LP trimmed its position in ConocoPhillips (NYSE:COP) by 25.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,158 shares of the energy producer’s stock after selling 5,269 shares during the period. Aigen Investment Management LP’s holdings in ConocoPhillips were worth $1,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Savvy Advisors Inc. increased its stake in ConocoPhillips by 108.5% during the 3rd quarter. Savvy Advisors Inc. now owns 12,138 shares of the energy producer’s stock valued at $1,278,000 after purchasing an additional 6,317 shares in the last quarter. Verus Capital Partners LLC raised its stake in ConocoPhillips by 2.0% in the 3rd quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock worth $541,000 after acquiring an additional 102 shares during the last quarter. Platform Technology Partners lifted its position in ConocoPhillips by 2.9% during the 3rd quarter. Platform Technology Partners now owns 13,424 shares of the energy producer’s stock worth $1,413,000 after acquiring an additional 375 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in ConocoPhillips by 63.6% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 77,597 shares of the energy producer’s stock valued at $8,169,000 after purchasing an additional 30,157 shares during the last quarter. Finally, First National Trust Co increased its holdings in shares of ConocoPhillips by 2.7% in the third quarter. First National Trust Co now owns 50,527 shares of the energy producer’s stock valued at $5,319,000 after purchasing an additional 1,336 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent research reports. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Sanford C. Bernstein dropped their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Finally, Scotiabank cut their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.47.

ConocoPhillips Trading Up 0.2 %

Shares of COP stock traded up $0.27 during trading hours on Tuesday, hitting $112.32. The company had a trading volume of 302,034 shares, compared to its average volume of 5,874,817. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market capitalization of $129.27 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company’s fifty day moving average is $107.69 and its 200 day moving average is $112.04. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two 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 analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. Research analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.78%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

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.