Vestor Capital LLC Lowers Holdings in ConocoPhillips (NYSE:COP)

Vestor Capital LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 51.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,125 shares of the energy producer’s stock after selling 75,231 shares during the quarter. Vestor Capital LLC’s holdings in ConocoPhillips were worth $4,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in ConocoPhillips during the second quarter valued at $274,000. Daymark Wealth Partners LLC lifted its stake in ConocoPhillips by 130.0% in the 2nd quarter. Daymark Wealth Partners LLC now owns 7,375 shares of the energy producer’s stock worth $764,000 after purchasing an additional 4,168 shares in the last quarter. Summit Global Investments bought a new position in shares of ConocoPhillips during the 2nd quarter valued at about $585,000. EP Wealth Advisors LLC purchased a new position in shares of ConocoPhillips during the first quarter valued at about $258,000. Finally, Astoria Portfolio Advisors LLC. increased its holdings in shares of ConocoPhillips by 17.7% in the second quarter. Astoria Portfolio Advisors LLC. now owns 4,580 shares of the energy producer’s stock worth $506,000 after purchasing an additional 690 shares during the last quarter. 80.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the transaction, the chief executive officer now owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Andrew D. Lundquist sold 30,800 shares of ConocoPhillips stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $123.83, for a total transaction of $3,813,964.00. Following the transaction, the senior vice president now directly owns 5,937 shares of the company’s stock, valued at $735,178.71. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the transaction, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The disclosure for this sale can be found here. Insiders sold a total of 646,049 shares of company stock valued at $78,636,116 in the last ninety days. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Raymond James cut their price target on ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating for the company in a report on Monday, July 24th. StockNews.com assumed coverage on shares of ConocoPhillips in a report on Thursday, October 5th. They issued a “hold” rating for the company. Jefferies Financial Group boosted their price target on shares of ConocoPhillips from $141.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. Johnson Rice initiated coverage on shares of ConocoPhillips in a research report on Tuesday. They set an “accumulate” rating and a $135.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price objective on shares of ConocoPhillips in a research note on Monday, August 14th. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.10.

ConocoPhillips Trading Up 0.3 %

COP stock opened at $115.39 on Tuesday. ConocoPhillips has a 12 month low of $91.53 and a 12 month high of $135.68. The firm’s 50-day moving average is $120.35 and its 200 day moving average is $112.12. The company has a market capitalization of $137.02 billion, a PE ratio of 12.61, a P/E/G ratio of 0.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 1.53.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th will be issued a dividend of $0.58 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.51. This represents a $2.32 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Monday, November 13th. ConocoPhillips’s dividend payout ratio (DPR) is presently 22.30%.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.