Syntax Research Inc. Lowers Holdings in ConocoPhillips (NYSE:COP)

Syntax Research Inc. trimmed its holdings in ConocoPhillips (NYSE:COP) by 31.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 21,004 shares of the energy producer’s stock after selling 9,723 shares during the period. ConocoPhillips makes up about 1.5% of Syntax Research Inc.’s holdings, making the stock its 26th largest holding. Syntax Research Inc.’s holdings in ConocoPhillips were worth $2,083,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Albion Financial Group UT lifted its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in ConocoPhillips during the fourth quarter worth $27,000. Truvestments Capital LLC acquired a new position in ConocoPhillips during the third quarter worth $31,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips during the fourth quarter worth $32,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips during the third quarter worth $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $102.05 on Monday. The stock’s 50-day moving average is $99.21 and its two-hundred day moving average is $103.37. The firm has a market cap of $129.84 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Analyst Ratings Changes

Several analysts have recently issued reports on COP shares. UBS Group reduced their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. TD Cowen started coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Barclays dropped their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.05.

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.