ConocoPhillips (NYSE:COP) Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC decreased its position in ConocoPhillips (NYSE:COP) by 55.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 615 shares of the energy producer’s stock after selling 769 shares during the quarter. Princeton Global Asset Management LLC’s holdings in ConocoPhillips were worth $65,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Principle Wealth Partners LLC raised its position in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after acquiring an additional 100 shares during the last quarter. Arlington Trust Co LLC raised its position in shares of ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after acquiring an additional 102 shares during the last quarter. Gray Wealth Management Inc. raised its position in shares of ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after acquiring an additional 104 shares during the last quarter. Plancorp LLC raised its position in shares of ConocoPhillips by 2.7% during the fourth quarter. Plancorp LLC now owns 4,018 shares of the energy producer’s stock worth $399,000 after acquiring an additional 104 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of ConocoPhillips by 3.7% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer’s stock worth $289,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley lifted their price objective on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Mizuho decreased their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada decreased their price objective on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.63.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $87.18 on Friday. The firm has a market cap of $110.21 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The stock’s 50-day moving average is $88.74 and its 200-day moving average is $96.42. ConocoPhillips has a one year low of $79.88 and a one 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 earnings results 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. 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 earnings per share. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 yield of 3.58%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

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.