CX Institutional Trims Stock Position in ConocoPhillips (NYSE:COP)

CX Institutional lessened its stake in ConocoPhillips (NYSE:COP) by 8.0% in the 1st quarter, according to its most recent filing with the SEC. 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 quarter.

Several other institutional investors have also recently added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips in the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at $27,000. 10Elms LLP purchased a new stake in ConocoPhillips in the fourth quarter valued at $28,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the fourth quarter valued at $32,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. 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. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Susquehanna lowered their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. Bank of America decreased their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Finally, Mizuho decreased their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.63.

ConocoPhillips Stock Performance

NYSE:COP opened at $91.08 on Wednesday. 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 firm has a market capitalization of $115.14 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.79 and a beta of 0.61. The firm’s fifty day simple moving average is $88.30 and its 200 day simple moving average is $96.11. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

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.