ConocoPhillips (NYSE:COP) Shares Sold by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC trimmed its position in ConocoPhillips (NYSE:COP) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,500 shares of the energy producer’s stock after selling 271 shares during the period. Sonora Investment Management Group LLC’s holdings in ConocoPhillips were worth $998,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. UBS Group dropped their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Bank of America reduced their price objective on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Finally, Royal Bank of Canada lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.63.

ConocoPhillips Trading Up 0.9%

NYSE COP opened at $88.03 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $111.29 billion, a P/E ratio of 11.30, a PEG ratio of 0.79 and a beta of 0.61. The firm’s 50-day moving average is $88.38 and its two-hundred day moving average is $96.15. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the prior year, the business posted $2.05 EPS. On average, sell-side analysts anticipate 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 was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

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.