ConocoPhillips (NYSE:COP) Stock Position Decreased by CX Institutional

CX Institutional lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 8.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,845 shares of the energy producer’s stock after selling 5,147 shares during the period. CX Institutional’s holdings in ConocoPhillips were worth $6,180,000 at the end of the most recent reporting period.

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

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $91.08 on Wednesday. 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 business’s 50 day simple moving average is $88.30 and its two-hundred day simple moving average is $96.11. The stock has a market capitalization of $115.14 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40.

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

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is 39.64%.

Analyst Ratings Changes

COP has been the subject of a number of research analyst reports. UBS Group cut their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. 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. Bank of America reduced their target price on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Royal Bank of Canada dropped their price target on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Finally, Mizuho dropped their target price on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently 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.