Lifestyle Asset Management Inc. Sells 6,554 Shares of ConocoPhillips (NYSE:COP)

Lifestyle Asset Management Inc. reduced its stake in ConocoPhillips (NYSE:COP - Free Report) by 74.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,292 shares of the energy producer's stock after selling 6,554 shares during the period. Lifestyle Asset Management Inc.'s holdings in ConocoPhillips were worth $241,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of COP. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. 10Elms LLP bought a new position in shares of ConocoPhillips during the fourth quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips during the 4th quarter worth approximately $32,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in ConocoPhillips in the 4th quarter valued at $36,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

NYSE COP traded up $1.83 during trading on Friday, hitting $87.18. 6,040,860 shares of the company's stock were exchanged, compared to its average volume of 7,386,933. The stock's 50 day moving average price is $89.11 and its two-hundred day moving average price is $96.72. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. 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 company has a market cap of $110.21 billion, a PE ratio of 11.19, a P/E/G ratio of 0.79 and a beta of 0.61.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 16.23% and a return on equity of 17.26%. During the same period in the prior year, the company earned $2.05 EPS. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on COP shares. Bank of America lowered their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Morgan Stanley increased their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. UBS Group dropped their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Piper Sandler cut their price target on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $121.63.

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.