ConocoPhillips (NYSE:COP) Shares Sold by Clarity Financial LLC

Clarity Financial LLC reduced its stake in ConocoPhillips (NYSE:COP) by 10.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,336 shares of the energy producer’s stock after selling 275 shares during the quarter. Clarity Financial LLC’s holdings in ConocoPhillips were worth $297,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Cardinal Capital Management Inc. purchased a new stake in shares of ConocoPhillips during the fourth quarter worth about $13,468,000. Columbia Trust Co 01012016 raised its holdings in ConocoPhillips by 1.2% in the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after acquiring an additional 112 shares during the last quarter. Raymond James & Associates lifted its stake in shares of ConocoPhillips by 1.5% during the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after purchasing an additional 23,572 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of ConocoPhillips by 2.2% during the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after purchasing an additional 212 shares during the last quarter. Finally, Quotient Wealth Partners LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at $5,594,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on COP shares. Mizuho lowered their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Bank of America restated a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. StockNews.com upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Truist Financial increased their target price on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Finally, Morgan Stanley boosted their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $113.98 on Thursday. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market capitalization of $133.30 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.22. The firm’s fifty day moving average price is $119.17 and its 200 day moving average price is $117.57.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. On average, research analysts forecast that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.74%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

About ConocoPhillips

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.