ConocoPhillips (NYSE:COP) Position Cut by Financial Security Advisor Inc.

Financial Security Advisor Inc. trimmed its stake in ConocoPhillips (NYSE:COP) by 5.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,921 shares of the energy producer’s stock after selling 179 shares during the quarter. Financial Security Advisor Inc.’s holdings in ConocoPhillips were worth $372,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of ConocoPhillips by 0.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after purchasing an additional 108,956 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of ConocoPhillips by 24.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after purchasing an additional 4,726,952 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of ConocoPhillips by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after purchasing an additional 270,859 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock valued at $968,410,000 after purchasing an additional 659,632 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of ConocoPhillips by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after purchasing an additional 204,714 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on COP shares. Wells Fargo & Company raised their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Barclays lifted their target price on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Susquehanna lifted their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Scotiabank lifted their target price on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Morgan Stanley lifted their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Stock Down 0.2 %

NYSE COP traded down $0.23 during trading on Tuesday, reaching $114.13. 3,836,698 shares of the company’s stock were exchanged, compared to its average volume of 5,671,220. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18. The firm has a market capitalization of $133.48 billion, a PE ratio of 12.91, a P/E/G ratio of 2.04 and a beta of 1.24. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $118.00 and its 200-day simple moving average is $117.61.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. Sell-side analysts predict that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. ConocoPhillips’s dividend payout ratio is 26.27%.

ConocoPhillips 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.