ConocoPhillips (NYSE:COP) Stake Cut by Successful Portfolios LLC

Successful Portfolios LLC cut its holdings in shares of ConocoPhillips (NYSE:COP) by 2.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,679 shares of the energy producer’s stock after selling 130 shares during the quarter. Successful Portfolios LLC’s holdings in ConocoPhillips were worth $596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. Cardinal Capital Management Inc. acquired a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $13,468,000. Columbia Trust Co 01012016 lifted its position in ConocoPhillips by 1.2% in the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after buying an additional 112 shares in the last quarter. Raymond James & Associates boosted its stake in shares of ConocoPhillips by 1.5% during the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after buying an additional 23,572 shares during the period. Harbor Investment Advisory LLC increased its stake in shares of ConocoPhillips by 2.2% in the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after acquiring an additional 212 shares during the last quarter. Finally, Quotient Wealth Partners LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth $5,594,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $114.38 on Monday. The business has a fifty day moving average of $118.30 and a 200-day moving average of $117.62. The firm has a market cap of $133.77 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data 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. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. On average, equities research analysts predict that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Barclays boosted their price target on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Raymond James reaffirmed a “strong-buy” rating and set a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Scotiabank boosted their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Finally, StockNews.com upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $144.18.

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, 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.