FAS Wealth Partners Inc. Lowers Stock Position in ConocoPhillips (NYSE:COP)

FAS Wealth Partners Inc. lessened its holdings in ConocoPhillips (NYSE:COP) by 4.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,005 shares of the energy producer’s stock after selling 586 shares during the period. FAS Wealth Partners Inc.’s holdings in ConocoPhillips were worth $1,191,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of COP. Price T Rowe Associates Inc. MD raised its stake in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Tidal Investments LLC raised its stake in shares of ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after acquiring an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. raised its stake in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after acquiring an additional 7,174 shares in the last quarter. Brookstone Capital Management raised its stake in shares of ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after acquiring an additional 383 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in ConocoPhillips by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer’s stock valued at $155,211,000 after purchasing an additional 32,948 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COP. Barclays cut their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Scotiabank cut their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Susquehanna set a $136.00 price target on shares of ConocoPhillips in a research note on Tuesday, April 22nd. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Royal Bank of Canada cut their price target on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $124.79.

ConocoPhillips Stock Performance

NYSE COP opened at $90.71 on Friday. The stock has a market capitalization of $114.67 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.79 and a beta of 0.83. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $125.22. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $93.89 and a 200 day moving average of $100.13.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.44%. ConocoPhillips’s payout ratio is currently 40.05%.

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.