ConocoPhillips (NYSE:COP) Shares Sold by JBR Co Financial Management Inc

JBR Co Financial Management Inc lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 27.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,869 shares of the energy producer’s stock after selling 698 shares during the quarter. JBR Co Financial Management Inc’s holdings in ConocoPhillips were worth $238,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Beacon Investment Advisory Services Inc. raised its holdings in ConocoPhillips by 1.8% in the first quarter. Beacon Investment Advisory Services Inc. now owns 72,706 shares of the energy producer’s stock valued at $9,254,000 after acquiring an additional 1,277 shares in the last quarter. TBH Global Asset Management LLC raised its holdings in ConocoPhillips by 34.5% in the first quarter. TBH Global Asset Management LLC now owns 28,486 shares of the energy producer’s stock valued at $3,626,000 after acquiring an additional 7,308 shares in the last quarter. D Orazio & Associates Inc. acquired a new stake in ConocoPhillips in the first quarter valued at approximately $257,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in ConocoPhillips by 20.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,415,801 shares of the energy producer’s stock valued at $180,203,000 after acquiring an additional 237,676 shares in the last quarter. Finally, Tradewinds LLC. acquired a new stake in ConocoPhillips in the first quarter valued at approximately $248,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $0.53 during mid-day trading on Thursday, hitting $116.61. 5,839,219 shares of the company were exchanged, compared to its average volume of 5,585,072. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $114.88 and a 200-day simple moving average of $117.35. ConocoPhillips has a 1-year low of $105.77 and a 1-year high of $135.18. The firm has a market cap of $136.38 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 2.06 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. On average, sell-side analysts forecast that ConocoPhillips will post 8.87 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Analyst Ratings Changes

Several equities analysts have commented on COP shares. Barclays increased their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Scotiabank dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Susquehanna increased their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Bank of America reiterated a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.29.

ConocoPhillips Company 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.