North Star Investment Management Corp. Sells 335 Shares of ConocoPhillips (NYSE:COP)

North Star Investment Management Corp. lessened its stake in ConocoPhillips (NYSE:COP) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,214 shares of the energy producer’s stock after selling 335 shares during the quarter. North Star Investment Management Corp.’s holdings in ConocoPhillips were worth $1,493,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips during the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. 10Elms LLP bought a new position in shares of ConocoPhillips during the fourth quarter valued at about $28,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips during the fourth quarter worth about $32,000. Finally, Marshall Investment Management LLC bought a new stake in ConocoPhillips in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on COP shares. Citigroup cut their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Mizuho cut their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Susquehanna decreased their target price on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research report on Monday, May 12th. Scotiabank cut their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.30.

ConocoPhillips Stock Up 2.4%

Shares of NYSE COP opened at $97.00 on Monday. 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 company has a market cap of $122.63 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The business has a 50-day simple moving average of $88.91 and a two-hundred day simple moving average of $95.79.

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

ConocoPhillips Announces Dividend

The company also recently declared 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 of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.22%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.