Curi RMB Capital LLC Trims Holdings in ConocoPhillips (NYSE:COP)

Curi RMB Capital LLC cut its stake in ConocoPhillips (NYSE:COP) by 8.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,295 shares of the energy producer’s stock after selling 884 shares during the quarter. Curi RMB Capital LLC’s holdings in ConocoPhillips were worth $979,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC boosted its stake in ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after buying an additional 4,578 shares during the period. Manning & Napier Advisors LLC bought a new stake in ConocoPhillips during the second quarter valued at $30,021,000. Alpha DNA Investment Management LLC boosted its stake in ConocoPhillips by 83.8% during the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after buying an additional 7,490 shares during the period. TCW Group Inc. boosted its stake in ConocoPhillips by 37.8% during the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after buying an additional 8,231 shares during the period. Finally, Doheny Asset Management CA bought a new stake in ConocoPhillips during the second quarter worth about $815,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.5 %

Shares of NYSE:COP opened at $112.32 on Friday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a market cap of $129.27 billion, a PE ratio of 13.53, a P/E/G ratio of 0.91 and a beta of 1.21. 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’s 50-day moving average is $107.88 and its 200 day moving average is $111.90.

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. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the business earned $2.16 EPS. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. Sell-side analysts anticipate that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. 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%. ConocoPhillips’s dividend payout ratio is 37.10%.

Wall Street Analyst Weigh In

COP has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Scotiabank dropped their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Susquehanna lifted their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

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.