Bradley Foster & Sargent Inc. CT Cuts Stock Position in ConocoPhillips $COP

Bradley Foster & Sargent Inc. CT lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 1.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 617,917 shares of the energy producer’s stock after selling 9,590 shares during the quarter. ConocoPhillips comprises about 1.3% of Bradley Foster & Sargent Inc. CT’s holdings, making the stock its 20th biggest holding. Bradley Foster & Sargent Inc. CT’s holdings in ConocoPhillips were worth $81,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Lombard Odier Asset Management Switzerland SA grew its holdings in shares of ConocoPhillips by 16.9% in the first quarter. Lombard Odier Asset Management Switzerland SA now owns 24,200 shares of the energy producer’s stock valued at $3,194,000 after purchasing an additional 3,500 shares in the last quarter. Waverly Advisors LLC lifted its holdings in ConocoPhillips by 16.9% during the 1st quarter. Waverly Advisors LLC now owns 64,690 shares of the energy producer’s stock worth $8,539,000 after buying an additional 9,368 shares in the last quarter. London Co. of Virginia acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $214,000. Wealth Alliance LLC boosted its position in ConocoPhillips by 27.1% in the 1st quarter. Wealth Alliance LLC now owns 5,386 shares of the energy producer’s stock valued at $711,000 after buying an additional 1,150 shares during the period. Finally, Bridgewater Advisors Inc. boosted its position in ConocoPhillips by 5.4% in the 1st quarter. Bridgewater Advisors Inc. now owns 3,241 shares of the energy producer’s stock valued at $428,000 after buying an additional 166 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of several research reports. Susquehanna boosted their price target on shares of ConocoPhillips from $152.00 to $155.00 and gave the stock a “positive” rating in a research note on Tuesday. Raymond James Financial reduced their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Citigroup boosted their target price on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Finally, Argus upped their price target on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Trading Up 0.1%

NYSE COP opened at $120.30 on Friday. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The firm has a 50 day moving average of $113.50 and a two-hundred day moving average of $114.23. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $146.56 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.45 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the business earned $2.09 EPS. The company’s revenue was down 6.1% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is 57.05%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.