Fortitude Family Office LLC Sells 131 Shares of ConocoPhillips (NYSE:COP)

Fortitude Family Office LLC trimmed its holdings in ConocoPhillips (NYSE:COP) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,524 shares of the energy producer’s stock after selling 131 shares during the period. Fortitude Family Office LLC’s holdings in ConocoPhillips were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in COP. apricus wealth LLC raised its stake in shares of ConocoPhillips by 1.3% in the first quarter. apricus wealth LLC now owns 23,992 shares of the energy producer’s stock worth $2,520,000 after purchasing an additional 310 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in ConocoPhillips by 18.8% during the first quarter. Simon Quick Advisors LLC now owns 6,763 shares of the energy producer’s stock worth $710,000 after buying an additional 1,068 shares in the last quarter. Laurel Wealth Advisors LLC raised its position in ConocoPhillips by 2.3% in the 1st quarter. Laurel Wealth Advisors LLC now owns 11,127 shares of the energy producer’s stock valued at $1,169,000 after buying an additional 248 shares during the last quarter. Focus Financial Network Inc. raised its position in ConocoPhillips by 2.9% in the 1st quarter. Focus Financial Network Inc. now owns 5,217 shares of the energy producer’s stock valued at $548,000 after buying an additional 147 shares during the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. lifted its stake in ConocoPhillips by 19.4% during the 1st quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 4,692 shares of the energy producer’s stock valued at $493,000 after acquiring an additional 761 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays reduced their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Royal Bank of Canada cut their price target on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, May 30th. UBS Group reduced their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Scotiabank decreased their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Finally, Citigroup cut their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.30.

ConocoPhillips Stock Up 2.4%

COP opened at $93.33 on Thursday. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The company has a fifty day moving average price of $88.44 and a 200-day moving average price of $96.09. 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 firm has a market capitalization of $117.98 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61.

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

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.34%. ConocoPhillips’s dividend payout ratio is 39.64%.

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.