Beck Capital Management LLC reduced its stake in shares of ConocoPhillips (NYSE:COP – Get Rating) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,734 shares of the energy producer’s stock after selling 251 shares during the quarter. Beck Capital Management LLC’s holdings in ConocoPhillips were worth $1,149,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in COP. Ten Capital Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 205.8% during the 4th quarter. Ten Capital Wealth Advisors LLC now owns 211 shares of the energy producer’s stock valued at $25,000 after buying an additional 142 shares in the last quarter. Orion Capital Management LLC boosted its holdings in shares of ConocoPhillips by 149.5% during the 4th quarter. Orion Capital Management LLC now owns 227 shares of the energy producer’s stock valued at $27,000 after buying an additional 136 shares in the last quarter. Moisand Fitzgerald Tamayo LLC boosted its holdings in shares of ConocoPhillips by 93.4% during the 4th quarter. Moisand Fitzgerald Tamayo LLC now owns 236 shares of the energy producer’s stock valued at $28,000 after buying an additional 114 shares in the last quarter. Horan Securities Inc. boosted its holdings in shares of ConocoPhillips by 81.8% during the 4th quarter. Horan Securities Inc. now owns 249 shares of the energy producer’s stock valued at $29,000 after buying an additional 112 shares in the last quarter. Finally, Bogart Wealth LLC boosted its holdings in shares of ConocoPhillips by 138.2% during the 4th quarter. Bogart Wealth LLC now owns 243 shares of the energy producer’s stock valued at $29,000 after buying an additional 141 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on COP. UBS Group began coverage on shares of ConocoPhillips in a report on Wednesday, April 19th. They set a “buy” rating and a $139.00 target price on the stock. Mizuho dropped their price target on shares of ConocoPhillips from $128.00 to $126.00 in a research note on Friday, May 19th. Citigroup dropped their price target on shares of ConocoPhillips from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Monday, February 27th. Raymond James upped their price target on shares of ConocoPhillips from $135.00 to $142.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 21st. Finally, StockNews.com started coverage on shares of ConocoPhillips in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $136.32.
Insider Activity
ConocoPhillips Price Performance
NYSE COP opened at $103.42 on Wednesday. ConocoPhillips has a 52 week low of $78.30 and a 52 week high of $138.49. The firm has a market capitalization of $125.14 billion, a P/E ratio of 8.27, a PEG ratio of 0.57 and a beta of 1.31. The company has a quick ratio of 1.29, a current ratio of 1.39 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $102.67 and a 200-day moving average price of $108.31.
ConocoPhillips (NYSE:COP – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The energy producer reported $2.38 EPS for the quarter, beating the consensus estimate of $2.02 by $0.36. ConocoPhillips had a net margin of 20.21% and a return on equity of 32.75%. The firm had revenue of $15.52 billion during the quarter, compared to analyst estimates of $16.06 billion. During the same quarter in the prior year, the firm earned $3.27 EPS. The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 10.05 earnings per share for the current year.
ConocoPhillips Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Tuesday, May 16th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, June 26th. ConocoPhillips’s payout ratio is currently 16.32%.
About ConocoPhillips
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.
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