Vanguard Capital Wealth Advisors Cuts Stake in ConocoPhillips (NYSE:COP)

Vanguard Capital Wealth Advisors cut its stake in ConocoPhillips (NYSE:COP) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,050 shares of the energy producer’s stock after selling 350 shares during the quarter. Vanguard Capital Wealth Advisors’ holdings in ConocoPhillips were worth $320,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Invesco Ltd. lifted its stake in shares of ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after acquiring an additional 4,211,939 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after acquiring an additional 3,397,360 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of ConocoPhillips by 27.6% in the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock worth $1,364,364,000 after acquiring an additional 2,971,661 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Barclays cut their price target on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Susquehanna cut their price target on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research note on Monday, May 12th. Mizuho lowered their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Royal Bank of Canada lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 30th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $121.63.

ConocoPhillips Stock Performance

Shares of COP stock opened at $87.18 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $88.74 and a two-hundred day moving average of $96.54. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The company has a market cap of $110.21 billion, a P/E ratio of 11.19, a PEG ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the previous year, the firm posted $2.05 earnings per share. As a group, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.78 per share. 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%.

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.