HM Payson & Co. Sells 787 Shares of ConocoPhillips (NYSE:COP)

HM Payson & Co. lessened its stake in shares of ConocoPhillips (NYSE:COP) by 3.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,261 shares of the energy producer’s stock after selling 787 shares during the quarter. HM Payson & Co.’s holdings in ConocoPhillips were worth $2,961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Price T Rowe Associates Inc. MD lifted its holdings in shares of ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after purchasing an additional 8,479,963 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted 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 buying an additional 3,127,165 shares during the period. Alphinity Investment Management Pty Ltd lifted its holdings in ConocoPhillips by 78.2% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock valued at $535,287,000 after buying an additional 2,023,263 shares during the period. Capital International Investors lifted its holdings in ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after buying an additional 1,856,085 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in ConocoPhillips by 3,931.3% in the first quarter. Assenagon Asset Management S.A. now owns 1,455,878 shares of the energy producer’s stock valued at $185,304,000 after buying an additional 1,419,764 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 2.4 %

Shares of NYSE:COP traded down $2.62 during midday trading on Friday, hitting $105.77. 7,445,068 shares of the company’s stock were exchanged, compared to its average volume of 5,694,223. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.21. The stock has a 50 day moving average price of $112.75 and a 200-day moving average price of $117.10. The company has a market cap of $123.70 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. ConocoPhillips has a 12 month low of $103.98 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.08). The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 8.73 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on COP shares. Wolfe Research started coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, Barclays upped their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.06.

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.