Campbell Newman Asset Management Inc. Reduces Stake in ConocoPhillips (NYSE:COP)

Campbell Newman Asset Management Inc. lowered its holdings in ConocoPhillips (NYSE:COP - Free Report) by 85.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,038 shares of the energy producer's stock after selling 258,130 shares during the quarter. Campbell Newman Asset Management Inc.'s holdings in ConocoPhillips were worth $4,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $511,000. Naples Global Advisors LLC increased its holdings in ConocoPhillips by 11.2% during the 4th quarter. Naples Global Advisors LLC now owns 15,902 shares of the energy producer's stock worth $1,577,000 after purchasing an additional 1,607 shares during the period. Ingalls & Snyder LLC increased its holdings in ConocoPhillips by 10.6% during the 4th quarter. Ingalls & Snyder LLC now owns 14,804 shares of the energy producer's stock worth $1,468,000 after purchasing an additional 1,417 shares during the period. Sawgrass Asset Management LLC increased its holdings in ConocoPhillips by 15.7% during the 4th quarter. Sawgrass Asset Management LLC now owns 2,851 shares of the energy producer's stock worth $283,000 after purchasing an additional 387 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock worth $50,345,000 after purchasing an additional 54,196 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of COP traded up $2.31 during mid-day trading on Friday, hitting $97.00. The company's stock had a trading volume of 16,786,406 shares, compared to its average volume of 7,485,831. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $88.91 and a 200 day simple moving average of $95.87. The firm has a market capitalization of $122.63 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 0.61. 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 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period last year, the firm earned $2.05 EPS. Analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on COP shares. Morgan Stanley upped their price target on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Barclays cut their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Susquehanna lowered their price objective on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research report on Monday, May 12th. Citigroup decreased their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Piper Sandler decreased their target price on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and an average price target of $121.30.

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.