Townsend Asset Management Corp NC ADV Has $351,000 Position in ConocoPhillips (NYSE:COP)

Townsend Asset Management Corp NC ADV cut its position in shares of ConocoPhillips (NYSE:COP) by 4.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,342 shares of the energy producer’s stock after selling 146 shares during the quarter. Townsend Asset Management Corp NC ADV’s holdings in ConocoPhillips were worth $351,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. Citigroup decreased their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Morgan Stanley raised their price target on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Scotiabank lowered their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Raymond James Financial reissued an “outperform” rating and issued a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Finally, Susquehanna decreased their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research note on Monday, May 12th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $121.30.

ConocoPhillips Stock Down 1.8%

ConocoPhillips stock opened at $93.77 on Thursday. The company’s 50-day moving average price is $89.27 and its two-hundred day moving average price is $95.68. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The stock has a market cap of $118.54 billion, a P/E ratio of 11.91, a P/E/G ratio of 2.58 and a beta of 0.61. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter last year, the company earned $2.05 earnings per share. As a group, analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president now owns 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips 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.