OneDigital Investment Advisors LLC Sells 258 Shares of ConocoPhillips (NYSE:COP)

OneDigital Investment Advisors LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 0.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 72,847 shares of the energy producer’s stock after selling 258 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in ConocoPhillips were worth $7,224,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares in the last quarter. Capital International Investors lifted its holdings in ConocoPhillips by 4.9% during the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock valued at $3,101,989,000 after purchasing an additional 1,473,027 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares during the last quarter. Invesco Ltd. boosted its position in ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after buying an additional 4,211,939 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of ConocoPhillips by 6.4% during the fourth quarter. Franklin Resources Inc. now owns 14,420,058 shares of the energy producer’s stock worth $1,430,034,000 after buying an additional 862,707 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

COP stock opened at $87.64 on Tuesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $130.77. The business’s 50-day moving average price is $95.03 and its two-hundred day moving average price is $101.11. The firm has a market cap of $110.79 billion, a PE ratio of 11.25, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is 40.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their target price 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. TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Royal Bank of Canada reduced their price objective on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $128.32.

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.