ConocoPhillips (NYSE:COP) Stock Position Trimmed by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its position in ConocoPhillips (NYSE:COP) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 287,375 shares of the energy producer’s stock after selling 11,798 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ConocoPhillips were worth $30,180,000 at the end of the most recent quarter.

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

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president now owns 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on COP. Barclays dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. UBS Group dropped their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, Mizuho dropped their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $121.30.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $95.54 on Wednesday. The firm’s 50 day simple moving average is $89.23 and its 200-day simple moving average is $95.69. The company has a market cap of $120.78 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is presently 39.64%.

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.