Heritage Investors Management Corp Decreases Stock Position in ConocoPhillips $COP

Heritage Investors Management Corp cut its position in ConocoPhillips (NYSE:COP) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,032 shares of the energy producer’s stock after selling 5,894 shares during the quarter. Heritage Investors Management Corp’s holdings in ConocoPhillips were worth $26,272,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Capital One Financial dropped their price target 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. UBS Group raised their price objective on shares of ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. BMO Capital Markets reduced their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.76.

ConocoPhillips Stock Up 1.4%

COP stock opened at $104.64 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $127.48 billion, a PE ratio of 17.77, a PEG ratio of 1.19 and a beta of 0.12. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The stock has a 50-day simple moving average of $116.12 and a two-hundred day simple moving average of $112.18.

ConocoPhillips (NYSE:COP) last announced its quarterly 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 the consensus estimate of $15.62 billion. During the same period in the prior year, the firm posted $2.09 earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 9.66 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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