Advisory Alpha LLC Cuts Stake in ConocoPhillips (NYSE:COP)

Advisory Alpha LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 57.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,532 shares of the energy producer’s stock after selling 8,702 shares during the quarter. Advisory Alpha LLC’s holdings in ConocoPhillips were worth $686,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new position in ConocoPhillips during the 4th quarter valued at approximately $511,000. Cibc World Market Inc. grew its holdings in ConocoPhillips by 543.0% during the 4th quarter. Cibc World Market Inc. now owns 146,843 shares of the energy producer’s stock valued at $14,562,000 after buying an additional 124,006 shares in the last quarter. Hunter Associates Investment Management LLC grew its holdings in ConocoPhillips by 8.0% during the 4th quarter. Hunter Associates Investment Management LLC now owns 3,221 shares of the energy producer’s stock valued at $322,000 after buying an additional 238 shares in the last quarter. TCI Wealth Advisors Inc. grew its holdings in ConocoPhillips by 18.5% during the 4th quarter. TCI Wealth Advisors Inc. now owns 2,252 shares of the energy producer’s stock valued at $223,000 after buying an additional 351 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in ConocoPhillips during the 4th quarter valued at approximately $87,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $85.12 on Friday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. 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 firm has a market capitalization of $107.61 billion, a P/E ratio of 10.93, a P/E/G ratio of 0.79 and a beta of 0.64. The stock has a 50 day moving average price of $90.46 and a 200 day moving average price of $97.34.

ConocoPhillips (NYSE:COP) last issued its quarterly 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. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period last year, the company earned $2.05 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.67%. 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 analyst reports. Morgan Stanley raised their price target on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Raymond James restated an “outperform” rating and set a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Bank of America cut their price target on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Wells Fargo & Company cut their price target on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a report on Wednesday, May 14th. Finally, Mizuho dropped their target price on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $121.63.

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.