ConocoPhillips $COP Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 411,943 shares of the energy producer’s stock after selling 18,440 shares during the quarter. Pictet Asset Management Holding SA’s holdings in ConocoPhillips were worth $54,376,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips in the fourth quarter valued at $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in ConocoPhillips during the 3rd quarter worth $28,000. Board of the Pension Protection Fund acquired a new position in ConocoPhillips during the 4th quarter worth $28,000. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth about $28,000. Finally, BNP Paribas acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on COP. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Roth Mkm upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Citigroup increased their target price on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Jefferies Financial Group lifted their target price on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.04.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $104.33 on Tuesday. The company has a market cap of $127.11 billion, a PE ratio of 17.71, a P/E/G ratio of 1.17 and a beta of 0.11. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The firm has a 50-day simple moving average of $116.94 and a 200 day simple moving average of $112.02. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the company posted $2.09 earnings per share. ConocoPhillips’s revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.