Baird Financial Group Inc. Reduces Position in ConocoPhillips (COP)

Baird Financial Group Inc. reduced its position in shares of ConocoPhillips (NYSE:COP) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,009 shares of the energy producer’s stock after selling 4,197 shares during the period. Baird Financial Group Inc.’s holdings in ConocoPhillips were worth $8,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in COP. IMA Wealth Inc. acquired a new stake in ConocoPhillips during the 2nd quarter worth approximately $100,000. Palo Capital Inc. acquired a new stake in ConocoPhillips during the 3rd quarter worth approximately $131,000. Adviser Investments LLC lifted its holdings in ConocoPhillips by 139.4% during the 2nd quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock worth $136,000 after purchasing an additional 1,139 shares during the last quarter. Lucia Wealth Services LLC increased its stake in ConocoPhillips by 541.3% during the 2nd quarter. Lucia Wealth Services LLC now owns 2,251 shares of the energy producer’s stock worth $157,000 after acquiring an additional 1,900 shares during the period. Finally, NuWave Investment Management LLC increased its stake in ConocoPhillips by 8,000.0% during the 3rd quarter. NuWave Investment Management LLC now owns 2,025 shares of the energy producer’s stock worth $157,000 after acquiring an additional 2,000 shares during the period. 71.77% of the stock is owned by institutional investors and hedge funds.

Shares of COP opened at $66.18 on Monday. ConocoPhillips has a 52-week low of $49.72 and a 52-week high of $80.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.82 and a current ratio of 1.99. The firm has a market capitalization of $76.19 billion, a PE ratio of 110.30, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 25th. The energy producer reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.19. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.48 billion. Equities research analysts expect that ConocoPhillips will post 4.75 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, October 15th will be paid a $0.305 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, October 12th. This represents a $1.22 annualized dividend and a dividend yield of 1.84%. ConocoPhillips’s dividend payout ratio (DPR) is presently 203.33%.

In related news, VP Glenda Mae Schwarz sold 18,882 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $71.15, for a total transaction of $1,343,454.30. Following the sale, the vice president now owns 29,064 shares of the company’s stock, valued at approximately $2,067,903.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.

A number of research firms have commented on COP. Zacks Investment Research lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Thursday, November 22nd. Morgan Stanley lowered their price objective on ConocoPhillips from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th. Piper Jaffray Companies restated a “hold” rating and set a $66.00 price objective on shares of ConocoPhillips in a research note on Monday, November 19th. BMO Capital Markets set a $78.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research note on Monday, November 12th. Finally, Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Monday, October 29th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. ConocoPhillips has an average rating of “Buy” and a consensus target price of $75.37.

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ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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