Bedell Frazier Investment Counselling LLC Sells 373 Shares of ConocoPhillips (NYSE:COP)

Bedell Frazier Investment Counselling LLC cut its stake in ConocoPhillips (NYSE:COP) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,706 shares of the energy producer’s stock after selling 373 shares during the quarter. ConocoPhillips accounts for 1.4% of Bedell Frazier Investment Counselling LLC’s holdings, making the stock its 22nd biggest position. Bedell Frazier Investment Counselling LLC’s holdings in ConocoPhillips were worth $5,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after purchasing an additional 12,751,120 shares in the last quarter. State Street Corp raised its stake in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP raised its stake in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after buying an additional 5,240,016 shares during the period. Assenagon Asset Management S.A. lifted its stake in ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after buying an additional 3,541,504 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in ConocoPhillips in the 4th quarter valued at $232,859,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.4 %

Shares of NYSE:COP opened at $102.37 on Monday. The business’s 50 day simple moving average is $98.95 and its 200 day simple moving average is $103.28. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market capitalization of $130.26 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COP. UBS Group cut their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Barclays lowered their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Morgan Stanley lowered their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $132.95.

ConocoPhillips 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.