Lmcg Investments LLC Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Lmcg Investments LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,190 shares of the energy producer’s stock after selling 2,817 shares during the quarter. Lmcg Investments LLC’s holdings in ConocoPhillips were worth $8,947,000 at the end of the most recent quarter.

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

ConocoPhillips Trading Down 2.2%

COP stock opened at $86.00 on Thursday. The firm has a fifty day moving average price of $89.50 and a 200 day moving average price of $96.91. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market cap of $108.72 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last posted its earnings results 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. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period last year, the firm posted $2.05 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Analysts Set New Price Targets

COP has been the subject of several research reports. Scotiabank reduced their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 30th. Barclays reduced their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Bank of America reduced their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $121.63.

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.