GPS Wealth Strategies Group LLC Sells 2,697 Shares of ConocoPhillips (NYSE:COP)

GPS Wealth Strategies Group LLC lessened its position in ConocoPhillips (NYSE:COP - Free Report) by 38.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,260 shares of the energy producer's stock after selling 2,697 shares during the period. GPS Wealth Strategies Group LLC's holdings in ConocoPhillips were worth $447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips in the fourth quarter worth approximately $27,000. 10Elms LLP bought a new position in shares of ConocoPhillips in the fourth quarter worth approximately $28,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips in the fourth quarter worth approximately $32,000. Finally, Marshall Investment Management LLC bought a new position in shares of ConocoPhillips in the fourth quarter worth approximately $36,000. Institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

COP has been the topic of several analyst reports. Raymond James reiterated an "outperform" rating and issued a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Barclays lowered their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank of Canada lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. UBS Group lowered their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, Scotiabank lowered their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $121.30.

ConocoPhillips Stock Performance

COP traded up $2.31 during 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 quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The firm has a market cap of $122.63 billion, a PE ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 0.61. The business's 50 day simple moving average is $88.91 and its 200-day simple moving average is $95.87.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results 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 business had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period last year, the firm earned $2.05 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

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.