Cornerstone Advisors LLC Lowers Holdings in ConocoPhillips (NYSE:COP)

Cornerstone Advisors LLC lessened its stake in shares of ConocoPhillips (NYSE:COPFree Report) by 7.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 57,500 shares of the energy producer’s stock after selling 4,800 shares during the period. Cornerstone Advisors LLC’s holdings in ConocoPhillips were worth $6,888,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Fairfield Bush & CO. purchased a new position in shares of ConocoPhillips in the first quarter valued at about $31,000. Cetera Investment Advisers lifted its position in shares of ConocoPhillips by 4.0% in the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock valued at $2,540,000 after acquiring an additional 968 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of ConocoPhillips by 1.9% in the first quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after acquiring an additional 9,313 shares in the last quarter. Zions Bancorporation N.A. lifted its position in shares of ConocoPhillips by 59.1% in the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after acquiring an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of ConocoPhillips by 21.3% in the first quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock valued at $1,406,000 after acquiring an additional 2,465 shares in the last quarter. Institutional investors own 80.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research analyst reports. Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating in a research report on Thursday, December 14th. UBS Group decreased their price objective on ConocoPhillips from $149.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Mizuho decreased their price objective on ConocoPhillips from $139.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 3rd. Scotiabank upped their price objective on ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, Susquehanna decreased their price objective on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research report on Friday, January 26th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $134.33.

Read Our Latest Research Report on COP

ConocoPhillips Stock Up 0.1 %

Shares of COP traded up $0.13 during midday trading on Monday, hitting $111.29. 3,074,359 shares of the company’s stock traded hands, compared to its average volume of 5,283,559. ConocoPhillips has a 1 year low of $91.53 and a 1 year high of $127.35. The firm’s fifty day moving average is $113.10 and its 200-day moving average is $116.55. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $132.15 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.65 and a beta of 1.24.

ConocoPhillips (NYSE:COPGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the prior year, the business posted $2.71 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 9.45 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

ConocoPhillips Profile

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's 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 global exploration prospects.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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