Cantor Fitzgerald Investment Advisors L.P. Sells 23,564 Shares of ConocoPhillips (NYSE:COP)

Cantor Fitzgerald Investment Advisors L.P. reduced its stake in ConocoPhillips (NYSE:COP - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,785 shares of the energy producer's stock after selling 23,564 shares during the period. ConocoPhillips accounts for approximately 1.2% of Cantor Fitzgerald Investment Advisors L.P.'s investment portfolio, making the stock its 29th biggest position. Cantor Fitzgerald Investment Advisors L.P.'s holdings in ConocoPhillips were worth $16,150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips during the fourth quarter worth about $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips during the fourth quarter worth about $27,000. 10Elms LLP bought a new stake in ConocoPhillips during the fourth quarter worth about $28,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips during the fourth quarter worth about $32,000. Finally, Marshall Investment Management LLC bought a new stake in ConocoPhillips during the fourth quarter worth about $36,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on COP. Piper Sandler dropped their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Susquehanna dropped their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Mizuho dropped their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Barclays lowered their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Morgan Stanley upped their price objective on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.30.

ConocoPhillips Stock Performance

COP traded up $0.96 during trading hours on Friday, hitting $94.76. The stock had a trading volume of 16,015,615 shares, compared to its average volume of 7,568,103. The company's fifty day simple moving average is $89.65 and its 200 day simple moving average is $95.52. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The stock has a market cap of $119.79 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter last year, the firm posted $2.05 EPS. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the company's stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president now owns 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.24% of the company's stock.

ConocoPhillips 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.