Los Angeles Capital Management & Equity Research Inc. trimmed its stake in ConocoPhillips (NYSE:COP) by 16.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,278 shares of the energy producer’s stock after selling 42,069 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in ConocoPhillips were worth $14,301,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lenox Wealth Advisors LLC acquired a new position in shares of ConocoPhillips in the first quarter worth $27,000. Smart Portfolios LLC raised its holdings in shares of ConocoPhillips by 69.5% in the fourth quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock worth $30,000 after acquiring an additional 196 shares during the last quarter. Clarfeld Financial Advisors LLC acquired a new position in shares of ConocoPhillips in the fourth quarter worth $32,000. Athena Capital Advisors LLC acquired a new position in shares of ConocoPhillips in the fourth quarter worth $32,000. Finally, Ironwood Financial llc raised its holdings in shares of ConocoPhillips by 294.1% in the fourth quarter. Ironwood Financial llc now owns 536 shares of the energy producer’s stock worth $33,000 after acquiring an additional 400 shares during the last quarter. 74.69% of the stock is owned by institutional investors.
COP has been the subject of a number of analyst reports. Morgan Stanley set a $77.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, January 29th. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and upped their target price for the company from $76.00 to $82.00 in a research note on Sunday, February 3rd. Zacks Investment Research upgraded ConocoPhillips from a “strong sell” rating to a “hold” rating in a research note on Monday, February 11th. Piper Jaffray Companies reiterated a “hold” rating on shares of ConocoPhillips in a research note on Tuesday, February 12th. Finally, Credit Suisse Group upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $78.60.
NYSE:COP traded down $0.57 on Wednesday, hitting $63.05. 4,598,988 shares of the stock were exchanged, compared to its average volume of 6,756,338. The firm has a market capitalization of $71.52 billion, a PE ratio of 13.92, a P/E/G ratio of 1.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 1.72. ConocoPhillips has a fifty-two week low of $56.75 and a fifty-two week high of $80.24.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, April 30th. The energy producer reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The company had revenue of $10.06 billion during the quarter, compared to analyst estimates of $9.16 billion. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. During the same period in the prior year, the firm posted $0.96 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 4.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.22 annualized dividend and a yield of 1.93%. ConocoPhillips’s dividend payout ratio is presently 26.93%.
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ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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