ConocoPhillips $COP is Castleview Partners LLC's 3rd Largest Position

Key Points

• Castleview Partners LLC reduced its ConocoPhillips stake by 24.7% in the first quarter, but COP still remained its 3rd largest holding at 3.3% of the portfolio, worth about $6.53 million.
• ConocoPhillips recently beat earnings expectations, reporting $1.89 EPS versus the $1.72 estimate and revenue of $15.76 billion, though revenue was still down 6.1% from a year earlier.
• Analysts remain generally positive on the stock, with a consensus Moderate Buy rating and a price target of $134.04, while the shares traded around $109.06 and the company paid a quarterly dividend of $0.84 per share.

Castleview Partners LLC cut its holdings in ConocoPhillips (NYSE:COP - Free Report) by 24.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,443 shares of the energy producer's stock after selling 16,199 shares during the period. ConocoPhillips accounts for 3.3% of Castleview Partners LLC's investment portfolio, making the stock its 3rd biggest position. Castleview Partners LLC's holdings in ConocoPhillips were worth $6,526,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in COP. Concurrent Investment Advisors LLC grew its position in ConocoPhillips by 31.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer's stock worth $8,067,000 after buying an additional 20,501 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of ConocoPhillips by 10.5% during the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer's stock worth $14,572,000 after purchasing an additional 14,833 shares in the last quarter. Czech National Bank increased its position in shares of ConocoPhillips by 2.7% in the fourth quarter. Czech National Bank now owns 325,841 shares of the energy producer's stock worth $30,502,000 after purchasing an additional 8,635 shares during the last quarter. BXM Wealth LLC raised its stake in ConocoPhillips by 691.6% in the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer's stock valued at $3,746,000 after purchasing an additional 34,961 shares in the last quarter. Finally, Assetmark Inc. raised its stake in ConocoPhillips by 17.6% in the fourth quarter. Assetmark Inc. now owns 410,229 shares of the energy producer's stock valued at $38,402,000 after purchasing an additional 61,361 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on COP shares. Citigroup boosted their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Scotiabank lifted their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Wolfe Research upped their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Freedom Capital downgraded ConocoPhillips from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial dropped their price target on ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating for the company in a research note on Monday, June 1st. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.04.

ConocoPhillips Trading Up 1.0%

Shares of COP traded up $1.04 during mid-day trading on Friday, reaching $109.06. The company's stock had a trading volume of 6,977,036 shares, compared to its average volume of 7,638,942. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The stock has a market cap of $132.86 billion, a PE ratio of 18.52, a P/E/G ratio of 1.31 and a beta of 0.12. The company's fifty day moving average price is $114.15 and its two-hundred day moving average price is $112.66. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to analysts' expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm's revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.09 EPS. On average, analysts predict that ConocoPhillips will post 9.28 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips's dividend payout ratio (DPR) 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.

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