ConocoPhillips (NYSE:COP) Stake Lessened by Vectors Research Management LLC

Vectors Research Management LLC decreased its stake in ConocoPhillips (NYSE:COPFree Report) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,964 shares of the energy producer’s stock after selling 222 shares during the quarter. Vectors Research Management LLC’s holdings in ConocoPhillips were worth $2,631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Fairfield Bush & CO. purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $31,000. Cetera Investment Advisers increased its stake in shares of ConocoPhillips by 4.0% during the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after purchasing an additional 968 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of ConocoPhillips by 1.9% during the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock worth $51,213,000 after purchasing an additional 9,313 shares during the last quarter. Zions Bancorporation N.A. increased its stake in shares of ConocoPhillips by 59.1% during the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock worth $181,000 after purchasing an additional 672 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of ConocoPhillips by 21.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after purchasing an additional 2,465 shares during the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Raymond James dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. UBS Group dropped their price target on shares of ConocoPhillips from $149.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Scotiabank increased their price target on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating on the stock in a research note on Friday, December 8th. Finally, Royal Bank of Canada raised their target price on shares of ConocoPhillips from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $134.33.

Read Our Latest Stock Analysis on ConocoPhillips

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $2.74 during mid-day trading on Friday, reaching $111.16. The company had a trading volume of 5,974,069 shares, compared to its average volume of 5,174,754. The company has a quick ratio of 1.53, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52 week low of $91.53 and a 52 week high of $127.35. The company has a 50 day moving average of $113.10 and a 200-day moving average of $116.56. The firm has a market cap of $131.99 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.65 and a beta of 1.24.

ConocoPhillips (NYSE:COPGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the prior year, the firm earned $2.71 EPS. On average, sell-side analysts expect that ConocoPhillips will post 9.45 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 19th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

About ConocoPhillips

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

See Also

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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