ConocoPhillips (NYSE:COP) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,713 shares of the energy producer’s stock after selling 366 shares during the quarter. Miracle Mile Advisors LLC’s holdings in ConocoPhillips were worth $3,961,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. RDA Financial Network lifted its holdings in shares of ConocoPhillips by 6.3% in the 1st quarter. RDA Financial Network now owns 2,632 shares of the energy producer’s stock valued at $276,000 after purchasing an additional 156 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of ConocoPhillips by 6.1% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 21,284 shares of the energy producer’s stock valued at $2,235,000 after purchasing an additional 1,221 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of ConocoPhillips by 2.1% in the 1st quarter. Wedmont Private Capital now owns 19,149 shares of the energy producer’s stock valued at $2,011,000 after purchasing an additional 393 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of ConocoPhillips by 80.0% in the 1st quarter. Sivia Capital Partners LLC now owns 5,375 shares of the energy producer’s stock valued at $564,000 after purchasing an additional 2,389 shares during the last quarter. Finally, Piscataqua Savings Bank lifted its holdings in shares of ConocoPhillips by 3.5% in the 1st quarter. Piscataqua Savings Bank now owns 3,705 shares of the energy producer’s stock valued at $389,000 after purchasing an additional 125 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE COP opened at $87.18 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $88.74 and its two-hundred day moving average is $96.32. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The stock has a market capitalization of $110.21 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COP. Mizuho reduced their target price on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Royal Bank of Canada reduced their target price on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 30th. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Barclays reduced their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley upped their price objective on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.63.

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.