ST Germain D J Co. Inc. Trims Stock Position in ConocoPhillips (NYSE:COP)

ST Germain D J Co. Inc. cut its stake in ConocoPhillips (NYSE:COP) by 6.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,385 shares of the energy producer’s stock after selling 223 shares during the quarter. ST Germain D J Co. Inc.’s holdings in ConocoPhillips were worth $355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips during the 4th quarter valued at approximately $27,000. 10Elms LLP purchased a new position in ConocoPhillips during the fourth quarter valued at $28,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips in the fourth quarter worth $32,000. Finally, Marshall Investment Management LLC bought a new stake in ConocoPhillips in the fourth quarter worth $36,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 1.4%

COP opened at $87.92 on Wednesday. The firm has a market capitalization of $111.15 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company’s 50 day simple moving average is $89.83 and its two-hundred day simple moving average is $96.99. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The firm had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same period last year, the business earned $2.05 earnings per share. Analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COP shares. Raymond James restated an “outperform” rating and set a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Royal Bank of Canada reduced their price target on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a report on Wednesday, May 14th. Mizuho cut their target price on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, Bank of America decreased their price target on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus 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.