ConocoPhillips (NYSE:COP) Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC cut its position in ConocoPhillips (NYSE:COP - Free Report) by 38.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on COP shares. Citigroup dropped their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Morgan Stanley raised their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Susquehanna dropped their target price on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a report on Monday, May 12th. Finally, Wells Fargo & Company dropped their target price on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $121.30.

ConocoPhillips Price Performance

Shares of NYSE COP traded up $2.31 during midday trading on Friday, hitting $97.00. The stock had a trading volume of 16,786,406 shares, compared to its average volume of 7,485,831. The company has a market capitalization 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 stock has a 50 day simple moving average of $88.91 and a 200-day simple moving average of $95.79. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. 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 (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is currently 39.64%.

About ConocoPhillips

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.