Gallacher Capital Management LLC Cuts Stock Position in ConocoPhillips (NYSE:COP)

Gallacher Capital Management LLC lowered its position in ConocoPhillips (NYSE:COP) by 42.1% during the first quarter, Holdings Channel reports. The institutional investor owned 2,459 shares of the energy producer’s stock after selling 1,785 shares during the quarter. Gallacher Capital Management LLC’s holdings in ConocoPhillips were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COP. Advisory Services Network LLC boosted its position in shares of ConocoPhillips by 10.2% in the 1st quarter. Advisory Services Network LLC now owns 122,939 shares of the energy producer’s stock worth $15,648,000 after purchasing an additional 11,428 shares in the last quarter. Manchester Capital Management LLC increased its stake in ConocoPhillips by 22.1% during the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares in the last quarter. Ruedi Wealth Management Inc. raised its holdings in shares of ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Advisory Alpha LLC lifted its stake in shares of ConocoPhillips by 1.2% during the first quarter. Advisory Alpha LLC now owns 8,598 shares of the energy producer’s stock worth $1,094,000 after buying an additional 100 shares during the period. Finally, Flossbach Von Storch AG grew its holdings in shares of ConocoPhillips by 2.3% during the first quarter. Flossbach Von Storch AG now owns 237,448 shares of the energy producer’s stock valued at $30,222,000 after buying an additional 5,406 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COP. Mizuho dropped their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 5th. Royal Bank of Canada increased their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Raymond James restated a “strong-buy” rating and set a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $145.69.

ConocoPhillips Price Performance

Shares of COP stock traded down $0.63 on Friday, reaching $113.36. 1,126,364 shares of the company were exchanged, compared to its average volume of 5,560,778. ConocoPhillips has a 1 year low of $105.77 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The business has a 50-day moving average price of $115.68 and a 200 day moving average price of $117.43. The company has a market cap of $132.58 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 2.01 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Equities research analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.