Breakwater Capital Group Reduces Holdings in ConocoPhillips (NYSE:COP)

Breakwater Capital Group reduced its stake in shares of ConocoPhillips (NYSE:COP) by 9.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,492 shares of the energy producer’s stock after selling 262 shares during the quarter. Breakwater Capital Group’s holdings in ConocoPhillips were worth $262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principle Wealth Partners LLC grew its position in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after acquiring an additional 100 shares during the last quarter. Arlington Trust Co LLC boosted its stake in ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after purchasing an additional 102 shares during the period. Gray Wealth Management Inc. grew its position in ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after purchasing an additional 104 shares during the last quarter. Plancorp LLC increased its stake in ConocoPhillips by 2.7% in the fourth quarter. Plancorp LLC now owns 4,018 shares of the energy producer’s stock valued at $399,000 after purchasing an additional 104 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its stake in ConocoPhillips by 3.7% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer’s stock valued at $289,000 after purchasing an additional 105 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

COP opened at $87.18 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The stock has a market cap of $110.21 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.79 and a beta of 0.61. The stock’s 50 day simple moving average is $88.74 and its 200 day simple moving average is $96.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the prior year, the company earned $2.05 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.58%. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Analyst Ratings Changes

A number of research firms recently issued reports on COP. Bank of America lowered their price target on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Royal Bank of Canada lowered their target price on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Scotiabank cut their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Morgan Stanley increased their price target on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, Piper Sandler dropped their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.63.

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.