Optivise Advisory Services LLC Trims Holdings in ConocoPhillips (NYSE:COP)

Optivise Advisory Services LLC trimmed its position in ConocoPhillips (NYSE:COP) by 9.8% during the first quarter, Holdings Channel.com reports. The firm owned 2,291 shares of the energy producer’s stock after selling 250 shares during the period. Optivise Advisory Services LLC’s holdings in ConocoPhillips were worth $241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Tallon Kerry Patrick acquired a new position in shares of ConocoPhillips during the 4th quarter valued at about $511,000. Legacy Capital Wealth Partners LLC increased its stake in shares of ConocoPhillips by 5.8% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,206 shares of the energy producer’s stock valued at $219,000 after acquiring an additional 121 shares during the last quarter. Allworth Financial LP increased its stake in shares of ConocoPhillips by 17.1% during the 4th quarter. Allworth Financial LP now owns 23,056 shares of the energy producer’s stock valued at $2,376,000 after acquiring an additional 3,372 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of ConocoPhillips during the 4th quarter valued at about $314,000. Finally, Csenge Advisory Group increased its stake in shares of ConocoPhillips by 9.4% during the 4th quarter. Csenge Advisory Group now owns 7,721 shares of the energy producer’s stock valued at $766,000 after acquiring an additional 666 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COP has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Royal Bank Of Canada dropped their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. UBS Group dropped their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped 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, Barclays dropped their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.30.

ConocoPhillips Stock Up 0.6%

NYSE COP opened at $95.54 on Wednesday. The stock has a market cap of $120.78 billion, a PE ratio of 12.14, a P/E/G ratio of 2.57 and a beta of 0.61. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The business has a 50 day moving average price of $89.23 and a two-hundred day moving average price of $95.69. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the business earned $2.05 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president now owns 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

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.