Bradley Foster & Sargent Inc. CT Reduces Stock Holdings in ConocoPhillips $COP

Key Points

• Bradley Foster & Sargent Inc. CT trimmed its ConocoPhillips stake by 1.5% in the first quarter, selling 9,590 shares and leaving it with 617,917 shares worth about $81.6 million.
• ConocoPhillips reported stronger-than-expected quarterly earnings of $1.89 per share versus estimates of $1.72, while revenue came in slightly above forecasts at $15.76 billion.
• The company continues to attract analyst support, with a Moderate Buy consensus and an average price target of $134.16; it also recently paid a quarterly dividend of $0.84 per share, or $3.36 annually.

Bradley Foster & Sargent Inc. CT reduced its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 617,917 shares of the energy producer's stock after selling 9,590 shares during the period. ConocoPhillips accounts for about 1.3% of Bradley Foster & Sargent Inc. CT's holdings, making the stock its 20th biggest holding. Bradley Foster & Sargent Inc. CT owned approximately 0.05% of ConocoPhillips worth $81,565,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $25,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC raised its position in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock valued at $32,000 after buying an additional 145 shares during the period. BNP Paribas purchased a new stake in shares of ConocoPhillips during the 2nd quarter valued at approximately $33,000. Finally, Optima Capital LLC acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $34,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $120.30 on Friday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The company has a 50 day moving average price of $113.50 and a 200 day moving average price of $114.23. The stock has a market capitalization of $146.56 billion, a P/E ratio of 20.42, a PEG ratio of 1.45 and a beta of 0.12.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the company earned $2.09 earnings per share. The firm's quarterly revenue was down 6.1% compared to the same quarter last year. Equities research analysts forecast that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.8%. ConocoPhillips's payout ratio is presently 57.05%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Capital One Financial lowered their price objective on ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating for the company in a research report on Monday, May 18th. Sanford C. Bernstein lifted their target price on ConocoPhillips from $98.00 to $121.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. BMO Capital Markets decreased their price target on ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Zacks Research cut ConocoPhillips from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Finally, Citigroup raised their price objective on ConocoPhillips from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $134.16.

ConocoPhillips Company 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.

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