Diversified Trust Co Cuts Stake in ConocoPhillips (NYSE:COP)

Diversified Trust Co lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 39.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,479 shares of the energy producer’s stock after selling 6,219 shares during the period. Diversified Trust Co’s holdings in ConocoPhillips were worth $1,206,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Cardinal Capital Management Inc. purchased a new stake in ConocoPhillips during the 4th quarter worth approximately $13,468,000. Columbia Trust Co 01012016 increased its position in shares of ConocoPhillips by 1.2% in the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after acquiring an additional 112 shares during the period. Raymond James & Associates raised its stake in ConocoPhillips by 1.5% in the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after acquiring an additional 23,572 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in ConocoPhillips by 2.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after acquiring an additional 212 shares during the period. Finally, Quotient Wealth Partners LLC purchased a new stake in ConocoPhillips during the 4th quarter valued at about $5,594,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COP. Susquehanna raised their price objective on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Truist Financial raised their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Mizuho cut their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 5th. Bank of America reissued a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Finally, Wells Fargo & Company upped their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Stock Down 0.0 %

NYSE COP opened at $114.37 on Tuesday. ConocoPhillips has a one year low of $99.35 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The business has a fifty day moving average price of $118.30 and a 200 day moving average price of $117.62. The company has a market cap of $133.76 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.04 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. Research analysts anticipate that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

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.