ConocoPhillips (NYSE:COP) Shares Sold by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 73.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,520 shares of the energy producer's stock after selling 9,559 shares during the period. TrinityPoint Wealth LLC's holdings in ConocoPhillips were worth $349,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Albion Financial Group UT increased its stake in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $27,000. Crowley Wealth Management Inc. purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $32,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $36,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 1.1%

NYSE COP traded down $0.94 during trading on Friday, reaching $85.19. 6,786,423 shares of the company's stock traded hands, compared to its average volume of 7,397,724. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market cap of $107.69 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company's 50 day simple moving average is $92.15 and its two-hundred day simple moving average is $98.26. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $119.23.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the firm posted $2.05 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Monday, May 19th. ConocoPhillips's payout ratio is currently 39.64%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Susquehanna cut their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Bank of America cut their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research note on Thursday, January 30th. JPMorgan Chase & Co. cut their target price 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. Finally, Mizuho cut their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.89.

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.