Spirit of America Management Corp NY Trims Position in ConocoPhillips (NYSE:COP)

Spirit of America Management Corp NY decreased its position in shares of ConocoPhillips (NYSE:COP) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,600 shares of the energy producer’s stock after selling 400 shares during the quarter. Spirit of America Management Corp NY’s holdings in ConocoPhillips were worth $2,906,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Values First Advisors Inc. purchased a new position in ConocoPhillips during the third quarter worth approximately $26,000. apricus wealth LLC raised its stake in ConocoPhillips by 6.5% during the third quarter. apricus wealth LLC now owns 23,817 shares of the energy producer’s stock worth $2,507,000 after purchasing an additional 1,445 shares during the period. Assenagon Asset Management S.A. raised its stake in ConocoPhillips by 142.1% during the third quarter. Assenagon Asset Management S.A. now owns 882,107 shares of the energy producer’s stock worth $92,868,000 after purchasing an additional 517,820 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in ConocoPhillips by 2.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 37,679 shares of the energy producer’s stock worth $3,967,000 after purchasing an additional 977 shares during the period. Finally, Patrick M Sweeney & Associates Inc. raised its stake in ConocoPhillips by 14.6% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,570 shares of the energy producer’s stock worth $271,000 after purchasing an additional 327 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale 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 currently owned by insiders.

ConocoPhillips Stock Down 0.1 %

Shares of NYSE:COP opened at $104.36 on Friday. The firm has a market cap of $121.19 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. The company has a fifty day simple moving average of $108.74 and a 200 day simple moving average of $114.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $1.84 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 7.95 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 25.86%.

Analysts Set New Price Targets

COP has been the topic of a number of recent analyst reports. Scotiabank cut their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Sanford C. Bernstein cut their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. 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 report on Wednesday, September 18th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Susquehanna reduced their target price on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Six investment 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. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $136.94.

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.