Sawyer & Company Inc Lowers Stock Position in ConocoPhillips (NYSE:COP)

Sawyer & Company Inc reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 0.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 28,653 shares of the energy producer’s stock after selling 206 shares during the period. ConocoPhillips makes up 1.5% of Sawyer & Company Inc’s investment portfolio, making the stock its 25th largest holding. Sawyer & Company Inc’s holdings in ConocoPhillips were worth $3,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Evergreen Capital Management LLC lifted its stake in shares of ConocoPhillips by 0.5% in the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after acquiring an additional 89 shares during the period. Adirondack Trust Co. increased its position in shares of ConocoPhillips by 3.1% during the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares during the period. West Paces Advisors Inc. increased its position in shares of ConocoPhillips by 5.9% during the 1st quarter. West Paces Advisors Inc. now owns 1,659 shares of the energy producer’s stock valued at $211,000 after purchasing an additional 93 shares during the period. Greenfield Savings Bank lifted its holdings in shares of ConocoPhillips by 1.3% in the fourth quarter. Greenfield Savings Bank now owns 7,520 shares of the energy producer’s stock valued at $873,000 after buying an additional 94 shares during the period. Finally, Relative Value Partners Group LLC boosted its stake in ConocoPhillips by 2.2% during the fourth quarter. Relative Value Partners Group LLC now owns 4,511 shares of the energy producer’s stock valued at $524,000 after buying an additional 95 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 0.4 %

ConocoPhillips stock opened at $114.38 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $99.35 and a 1-year high of $135.18. The firm’s fifty day simple moving average is $118.30 and its 200-day simple moving average is $117.53. The company has a market capitalization of $133.77 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.03 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Sell-side analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.78 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.73%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COP. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Royal Bank of Canada lifted their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Bank of America reissued a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. Wells Fargo & Company raised their target price on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Scotiabank upped their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

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.