ConocoPhillips (NYSE:COP) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. reduced its holdings in ConocoPhillips (NYSE:COP) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,869 shares of the energy producer’s stock after selling 285 shares during the period. Shell Asset Management Co.’s holdings in ConocoPhillips were worth $1,375,000 at the end of the most recent quarter.

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

ConocoPhillips Trading Down 0.7%

COP opened at $92.34 on Friday. The stock has a market capitalization of $116.73 billion, a PE ratio of 11.85, a P/E/G ratio of 0.79 and a beta of 0.64. ConocoPhillips has a one year low of $79.88 and a one year high of $122.11. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The business’s 50 day moving average price is $93.24 and its 200 day moving average price is $99.03.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $2.05 EPS. As a group, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced 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. This represents a $3.12 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Analysts Set New Price Targets

COP has been the subject of several research reports. Royal Bank of Canada cut their price objective on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Mizuho dropped their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Bank of America lowered ConocoPhillips from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $138.00 to $107.00 in a report on Tuesday, April 29th. Scotiabank lowered their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.74.

ConocoPhillips Company 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.