Teza Capital Management LLC Reduces Position in ConocoPhillips (NYSE:COP)

Teza Capital Management LLC trimmed its stake in ConocoPhillips (NYSE:COP) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,100 shares of the energy producer’s stock after selling 5,413 shares during the quarter. ConocoPhillips accounts for 1.2% of Teza Capital Management LLC’s portfolio, making the stock its 6th biggest holding. Teza Capital Management LLC’s holdings in ConocoPhillips were worth $7,745,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in COP. Tallon Kerry Patrick purchased a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $511,000. Legacy Wealth Asset Management LLC raised its stake in ConocoPhillips by 7.9% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 7,245 shares of the energy producer’s stock valued at $718,000 after buying an additional 530 shares during the last quarter. Carnegie Investment Counsel raised its stake in ConocoPhillips by 127.4% during the 4th quarter. Carnegie Investment Counsel now owns 17,105 shares of the energy producer’s stock valued at $1,696,000 after buying an additional 9,583 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of ConocoPhillips by 12.4% during the 4th quarter. Ritholtz Wealth Management now owns 29,358 shares of the energy producer’s stock valued at $2,911,000 after buying an additional 3,232 shares during the period. Finally, Hennessy Advisors Inc. boosted its stake in shares of ConocoPhillips by 17.0% in the 4th quarter. Hennessy Advisors Inc. now owns 36,324 shares of the energy producer’s stock worth $3,602,000 after buying an additional 5,279 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 0.7%

Shares of ConocoPhillips stock opened at $92.34 on Friday. The firm has a market cap of $116.73 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.79 and a beta of 0.64. The business has a 50-day moving average price of $93.24 and a 200-day moving average price of $99.03. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $122.11.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during 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 last year, the business posted $2.05 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.38%. ConocoPhillips’s payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COP. Royal Bank of Canada reduced their price objective on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Piper Sandler cut their price target on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. UBS Group lowered their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Finally, Scotiabank reduced their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $122.74.

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.