Mcdonald Partners LLC Trims Position in ConocoPhillips (NYSE:COP)

Mcdonald Partners LLC trimmed its position in ConocoPhillips (NYSE:COP) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,481 shares of the energy producer’s stock after selling 1,208 shares during the period. Mcdonald Partners LLC’s holdings in ConocoPhillips were worth $2,352,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COP. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth $27,000. West Branch Capital LLC lifted its position in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Cooksen Wealth LLC bought a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $27,000. Sachetta LLC purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $27,000. Finally, Cape Investment Advisory Inc. raised its stake in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.2 %

ConocoPhillips stock traded down $1.41 during midday trading on Wednesday, reaching $113.58. The stock had a trading volume of 5,366,109 shares, compared to its average volume of 5,703,051. ConocoPhillips has a 52-week low of $99.35 and a 52-week high of $135.18. The company has a fifty day moving average of $119.17 and a 200 day moving average of $117.57. The firm has a market cap of $132.84 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 company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. On average, analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a $0.78 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.75%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analysts Set New Price Targets

COP has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Morgan Stanley upped their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Bank of America reissued a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. Scotiabank boosted their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Barclays boosted their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Company Profile

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.