ConocoPhillips (NYSE:COP) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. cut its holdings in ConocoPhillips (NYSE:COP) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,931 shares of the energy producer’s stock after selling 586 shares during the quarter. Logan Capital Management Inc.’s holdings in ConocoPhillips were worth $9,315,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips during the 4th quarter worth about $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips in the 4th quarter valued at about $32,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth about $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on COP. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research report on Thursday, January 30th. Susquehanna set a $136.00 target price on ConocoPhillips in a research report on Tuesday, April 22nd. Bank of America lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $138.00 to $107.00 in a report on Tuesday, April 29th. Royal Bank of Canada dropped their price target on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $124.89.

ConocoPhillips Price Performance

COP opened at $88.58 on Monday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $122.56. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market cap of $111.98 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.79 and a beta of 0.64. The company has a fifty day simple moving average of $93.08 and a 200 day simple moving average of $99.37.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the previous year, the company earned $2.05 earnings per share. Equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.52%. ConocoPhillips’s dividend payout ratio (DPR) is 39.64%.

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.