Janney Capital Management LLC Sells 535 Shares of ConocoPhillips (NYSE:COP)

Janney Capital Management LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,005 shares of the energy producer’s stock after selling 535 shares during the period. Janney Capital Management LLC’s holdings in ConocoPhillips were worth $5,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its position in ConocoPhillips by 0.8% during the 1st quarter. State of Alaska Department of Revenue now owns 256,021 shares of the energy producer’s stock worth $26,886,000 after buying an additional 2,035 shares during the period. CWA Asset Management Group LLC increased its position in ConocoPhillips by 59.7% during the 1st quarter. CWA Asset Management Group LLC now owns 5,587 shares of the energy producer’s stock worth $587,000 after buying an additional 2,089 shares during the period. Cadent Capital Advisors LLC increased its position in ConocoPhillips by 4.3% during the 1st quarter. Cadent Capital Advisors LLC now owns 4,426 shares of the energy producer’s stock worth $465,000 after buying an additional 184 shares during the period. JBR Co Financial Management Inc bought a new position in ConocoPhillips during the 1st quarter worth $203,000. Finally, Cornerstone Wealth Management LLC increased its position in ConocoPhillips by 7.5% during the 1st quarter. Cornerstone Wealth Management LLC now owns 14,989 shares of the energy producer’s stock worth $1,574,000 after buying an additional 1,040 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $93.77 on Thursday. The business’s 50-day moving average price is $89.27 and its 200-day moving average price is $95.68. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. The firm has a market capitalization of $118.54 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 2.58 and a beta of 0.61. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same period last year, the firm posted $2.05 earnings per share. Equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Wall Street Analyst Weigh In

COP has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Scotiabank reduced their target price on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Susquehanna reduced their target price on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday, May 12th. Mizuho reduced their target price on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, Morgan Stanley increased their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $121.30.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is owned by insiders.

About ConocoPhillips

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.