Everett Harris & Co. CA Decreases Stock Position in ConocoPhillips (NYSE:COP)

Everett Harris & Co. CA trimmed its position in shares of ConocoPhillips (NYSE:COP) by 8.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,700 shares of the energy producer’s stock after selling 746 shares during the quarter. Everett Harris & Co. CA’s holdings in ConocoPhillips were worth $980,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. purchased a new position in shares of ConocoPhillips in the fourth quarter worth about $13,468,000. Columbia Trust Co 01012016 boosted its holdings in shares of ConocoPhillips by 1.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after purchasing an additional 112 shares during the last quarter. Raymond James & Associates boosted its holdings 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 worth $181,422,000 after purchasing an additional 23,572 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings 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 valued at $1,234,000 after purchasing an additional 212 shares during the last quarter. Finally, Quotient Wealth Partners LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $5,594,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.7 %

Shares of NYSE:COP opened at $113.93 on Friday. The firm has a market capitalization of $133.24 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 2.05 and a beta of 1.23. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The firm’s 50-day moving average is $117.09 and its two-hundred day moving average is $117.57.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $14.72 billion. Analysts predict that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

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 of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.74%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler upped their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Raymond James restated a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Wells Fargo & Company raised their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Bank of America reiterated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.