Capital Asset Advisory Services LLC Decreases Holdings in ConocoPhillips $COP

Capital Asset Advisory Services LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 32.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,220 shares of the energy producer’s stock after selling 9,789 shares during the period. Capital Asset Advisory Services LLC’s holdings in ConocoPhillips were worth $2,669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors raised its position in ConocoPhillips by 18.2% during the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after purchasing an additional 7,037,873 shares during the period. AQR Capital Management LLC lifted its stake in shares of ConocoPhillips by 229.2% in the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock valued at $336,544,000 after purchasing an additional 2,503,156 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after purchasing an additional 2,350,645 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of ConocoPhillips by 20.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after purchasing an additional 2,216,010 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $135,265,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on COP. Sanford C. Bernstein increased their price target on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Susquehanna boosted their price objective on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Barclays increased their target price on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Roth Mkm upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.76.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $103.25 on Thursday. The stock’s fifty day moving average is $116.43 and its two-hundred day moving average is $112.12. The company has a market capitalization of $125.78 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.12. 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 has a 52 week low of $85.57 and a 52 week high of $135.87.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, analysts expect that ConocoPhillips will post 9.66 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

About ConocoPhillips

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.