Deprince Race & Zollo Inc. Decreases Stake in ConocoPhillips $COP

Deprince Race & Zollo Inc. decreased its holdings in ConocoPhillips (NYSE:COP) by 33.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 193,071 shares of the energy producer’s stock after selling 97,280 shares during the period. Deprince Race & Zollo Inc.’s holdings in ConocoPhillips were worth $25,485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips during the fourth quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at $28,000. Board of the Pension Protection Fund purchased a new stake in ConocoPhillips during the fourth quarter valued at about $28,000. Strive Asset Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at about $28,000. Finally, BNP Paribas bought a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $33,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP opened at $103.25 on Thursday. The business has a fifty day moving average of $116.43 and a 200 day moving average of $112.12. The firm has a market capitalization of $125.78 billion, a P/E ratio of 17.53, a PEG ratio of 1.20 and a beta of 0.12. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 9.66 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on COP shares. The Goldman Sachs Group lowered their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday. Capital One Financial cut their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Truist Financial set a $128.00 price target on ConocoPhillips in a research note on Friday, May 1st. Mizuho lifted their target price on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, UBS Group upped their price target on shares of ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.76.

ConocoPhillips 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.