Spirit of America Management Corp NY Sells 9,800 Shares of ConocoPhillips $COP

Spirit of America Management Corp NY trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 20.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,604 shares of the energy producer’s stock after selling 9,800 shares during the quarter. Spirit of America Management Corp NY’s holdings in ConocoPhillips were worth $3,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of COP. Charles Schwab Investment Management Inc. grew its position in shares of ConocoPhillips by 0.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after buying an additional 287,970 shares during the period. Fisher Asset Management LLC grew its stake in shares of ConocoPhillips by 1.6% in the 2nd quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock valued at $1,291,706,000 after buying an additional 224,201 shares during the period. Ameriprise Financial Inc. raised its position in shares of ConocoPhillips by 31.4% during the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after purchasing an additional 2,575,803 shares during the period. Primecap Management Co. CA lifted its holdings in shares of ConocoPhillips by 66.0% in the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after purchasing an additional 3,135,315 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of ConocoPhillips by 4.0% during the second quarter. Boston Partners now owns 6,424,232 shares of the energy producer’s stock valued at $577,471,000 after buying an additional 244,810 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $91.85 on Friday. The stock’s 50-day moving average is $89.95 and its 200 day moving average is $92.49. The stock has a market cap of $113.50 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 2.08 and a beta of 0.32. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $106.20. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $1.78 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is 47.52%.

Insider Activity at ConocoPhillips

In related news, Director William H. Mcraven purchased 5,768 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were acquired at an average cost of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COP has been the subject of several recent research reports. UBS Group upped their price target on ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, December 12th. BMO Capital Markets decreased their price objective on shares of ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Royal Bank Of Canada upped their price objective on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Jefferies Financial Group restated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Finally, Mizuho raised their price target on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Nineteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.08.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.