Sawyer & Company Inc lowered its holdings in ConocoPhillips (NYSE:COP) by 9.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,160 shares of the energy producer’s stock after selling 1,180 shares during the quarter. Sawyer & Company Inc’s holdings in ConocoPhillips were worth $745,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lenox Wealth Advisors LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $27,000. Smart Portfolios LLC grew its holdings in shares of ConocoPhillips by 69.5% during the 4th quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock worth $30,000 after purchasing an additional 196 shares in the last quarter. Athena Capital Advisors LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $32,000. Clarfeld Financial Advisors LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $32,000. Finally, Destination Wealth Management grew its holdings in shares of ConocoPhillips by 592.6% during the 1st quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock worth $37,000 after purchasing an additional 480 shares in the last quarter. 74.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of COP stock opened at $63.62 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $70.18 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.50 and a beta of 1.06. ConocoPhillips has a one year low of $56.75 and a one year high of $80.24.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. The firm had revenue of $10.06 billion during the quarter, compared to the consensus estimate of $9.16 billion. During the same quarter in the previous year, the company posted $0.96 EPS. Research analysts expect that ConocoPhillips will post 4.44 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be given a $0.305 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.22 annualized dividend and a yield of 1.92%. ConocoPhillips’s payout ratio is 26.93%.
Several analysts have recently weighed in on COP shares. ValuEngine lowered ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $76.00 to $82.00 in a research note on Sunday, February 3rd. Credit Suisse Group raised ConocoPhillips from a “neutral” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Tuesday, April 30th. Morgan Stanley set a $77.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, January 29th. Finally, Piper Jaffray Companies raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $75.00 in a research note on Thursday, March 21st. Six 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 a consensus rating of “Buy” and an average price target of $78.60.
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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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