Deltec Asset Management LLC Sells 2,000 Shares of ConocoPhillips (NYSE:COP)

Deltec Asset Management LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 10.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,000 shares of the energy producer’s stock after selling 2,000 shares during the quarter. Deltec Asset Management LLC’s holdings in ConocoPhillips were worth $2,164,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in ConocoPhillips by 24.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock worth $2,752,325,000 after purchasing an additional 4,726,952 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in ConocoPhillips by 512.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after purchasing an additional 3,127,165 shares during the period. Alphinity Investment Management Pty Ltd lifted its holdings in ConocoPhillips by 78.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock worth $535,287,000 after buying an additional 2,023,263 shares during the period. International Assets Investment Management LLC grew its position in shares of ConocoPhillips by 13,905.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock valued at $129,332,000 after buying an additional 1,106,305 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of ConocoPhillips by 29.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,422,834 shares of the energy producer’s stock valued at $397,288,000 after buying an additional 776,107 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $0.41 during midday trading on Friday, reaching $114.38. The company’s stock had a trading volume of 7,191,846 shares, compared to its average volume of 7,011,207. The stock has a market capitalization of $133.77 billion, a P/E ratio of 12.95, a PEG ratio of 2.04 and a beta of 1.22. 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 firm has a 50 day moving average price of $118.30 and a 200-day moving average price of $117.62. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, equities analysts predict that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on COP shares. 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 report on Friday, May 3rd. Bank of America reissued a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Barclays upped their target price on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Mizuho reduced their price target on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Finally, Morgan Stanley upped their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.18.

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.