Paces Ferry Wealth Advisors LLC Cuts Stock Position in ConocoPhillips (NYSE:COP)

Paces Ferry Wealth Advisors LLC reduced its position in ConocoPhillips (NYSE:COP) by 7.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,663 shares of the energy producer’s stock after selling 278 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in ConocoPhillips were worth $466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $27,000. West Branch Capital LLC lifted its stake in shares of ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Sachetta LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Finally, Richardson Capital Management LLC bought a new stake in shares of ConocoPhillips in the 1st quarter valued at about $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on COP shares. Barclays upped their price target on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Mizuho lowered their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Susquehanna upped their price target on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Bank of America reaffirmed a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Stock Down 1.9 %

COP traded down $2.22 during trading on Friday, hitting $112.55. 4,188,395 shares of the company’s stock traded hands, compared to its average volume of 5,919,330. The company’s 50 day simple moving average is $116.73 and its two-hundred day simple moving average is $117.56. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18. The stock has a market capitalization of $131.63 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.05 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Analysts predict that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.78 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.77%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.