ConocoPhillips (COP) Position Cut by Palladium Partners LLC

Palladium Partners LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 11.0% in the first quarter, HoldingsChannel.com reports. The fund owned 8,737 shares of the energy producer’s stock after selling 1,081 shares during the quarter. Palladium Partners LLC’s holdings in ConocoPhillips were worth $583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Pineno Levin & Ford Asset Management Inc. raised its position in ConocoPhillips by 0.4% during the 4th quarter. Pineno Levin & Ford Asset Management Inc. now owns 37,800 shares of the energy producer’s stock valued at $2,357,000 after purchasing an additional 150 shares in the last quarter. First Commonwealth Financial Corp PA raised its position in ConocoPhillips by 2.8% during the 4th quarter. First Commonwealth Financial Corp PA now owns 5,454 shares of the energy producer’s stock valued at $340,000 after purchasing an additional 150 shares in the last quarter. Fishman Jay A Ltd. MI raised its position in ConocoPhillips by 0.4% during the 4th quarter. Fishman Jay A Ltd. MI now owns 38,267 shares of the energy producer’s stock valued at $2,386,000 after purchasing an additional 152 shares in the last quarter. Arete Wealth Advisors LLC raised its position in ConocoPhillips by 1.5% during the 4th quarter. Arete Wealth Advisors LLC now owns 10,832 shares of the energy producer’s stock valued at $675,000 after purchasing an additional 158 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its position in ConocoPhillips by 0.5% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 34,226 shares of the energy producer’s stock valued at $2,284,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 74.69% of the company’s stock.

ConocoPhillips stock opened at $62.10 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. The stock has a market cap of $70.18 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.51 and a beta of 1.06. ConocoPhillips has a fifty-two week low of $56.75 and a fifty-two week high of $80.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The business had revenue of $10.06 billion for the quarter, compared to the consensus estimate of $9.16 billion. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. During the same quarter in the previous year, the business earned $0.96 EPS. On average, research analysts forecast that ConocoPhillips will post 4.37 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.305 per share. The ex-dividend date is Friday, May 10th. This represents a $1.22 annualized dividend and a yield of 1.96%. ConocoPhillips’s payout ratio is presently 26.93%.

COP has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on ConocoPhillips from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $76.00 to $82.00 in a research report on Sunday, February 3rd. Zacks Investment Research raised ConocoPhillips from a “strong sell” rating to a “hold” rating in a research report on Monday, February 11th. Piper Jaffray Companies raised ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $68.00 to $75.00 in a research report on Thursday, March 21st. Finally, ValuEngine lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $78.60.

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ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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