Ascent Group LLC Decreases Stock Position in ConocoPhillips (NYSE:COP)

Ascent Group LLC reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 17.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,093 shares of the energy producer's stock after selling 5,153 shares during the period. Ascent Group LLC's holdings in ConocoPhillips were worth $2,488,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Orrstown Financial Services Inc. grew its holdings in ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock valued at $331,000 after purchasing an additional 96 shares during the last quarter. Principle Wealth Partners LLC grew its stake in ConocoPhillips by 0.3% in the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after acquiring an additional 100 shares during the last quarter. Arlington Trust Co LLC increased its holdings in ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock valued at $857,000 after acquiring an additional 102 shares in the last quarter. Gray Wealth Management Inc. raised its position in ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock worth $215,000 after acquiring an additional 104 shares during the last quarter. Finally, Plancorp LLC lifted its holdings in shares of ConocoPhillips by 2.7% in the fourth quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock valued at $399,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 1.1%

Shares of NYSE COP traded down $0.98 during trading on Wednesday, hitting $84.57. 6,785,093 shares of the company traded hands, compared to its average volume of 7,408,890. The firm has a market capitalization of $106.91 billion, a P/E ratio of 10.86, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $91.49 and a 200-day moving average price of $97.89. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the previous year, the business earned $2.05 earnings per share. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Analysts Set New Price Targets

COP has been the subject of a number of recent research reports. Piper Sandler dropped their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Barclays lowered their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Morgan Stanley upped their price objective on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Bank of America dropped their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.89.

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.