ConocoPhillips (NYSE:COP) Stock Holdings Raised by Garner Asset Management Corp

Garner Asset Management Corp grew its stake in ConocoPhillips (NYSE:COP) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,579 shares of the energy producer’s stock after purchasing an additional 2,523 shares during the quarter. ConocoPhillips makes up approximately 1.1% of Garner Asset Management Corp’s holdings, making the stock its 23rd biggest holding. Garner Asset Management Corp’s holdings in ConocoPhillips were worth $2,438,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Albion Financial Group UT grew its position in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips during the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in ConocoPhillips in the fourth quarter worth $27,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips during the fourth quarter valued at $32,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 3.7 %

Shares of ConocoPhillips stock opened at $86.36 on Friday. The business has a fifty day simple moving average of $96.51 and a 200-day simple moving average of $102.04. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $135.18. The firm has a market cap of $109.17 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its quarterly 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 net margin of 16.23% and a return on equity of 17.26%. On average, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Analyst Ratings Changes

A number of brokerages recently weighed in on COP. Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. UBS Group cut their price target on ConocoPhillips from $130.00 to $116.00 and set a “buy” rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research note on Thursday, January 30th. Finally, Morgan Stanley cut their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $130.79.

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.