Lazard Asset Management LLC Sells 130,256 Shares of ConocoPhillips $COP

Lazard Asset Management LLC decreased its stake in ConocoPhillips (NYSE:COP) by 8.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,449,245 shares of the energy producer’s stock after selling 130,256 shares during the period. Lazard Asset Management LLC’s holdings in ConocoPhillips were worth $191,300,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AXA S.A. increased its position in ConocoPhillips by 91.1% during the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after purchasing an additional 40,499 shares during the period. Sei Investments Co. lifted its position in shares of ConocoPhillips by 6.1% in the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after purchasing an additional 44,852 shares during the period. BNP Paribas bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at $33,000. Osterweis Capital Management Inc. bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at $151,000. Finally, Main Street Financial Solutions LLC increased its position in shares of ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after buying an additional 1,675 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.0%

Shares of NYSE COP opened at $120.30 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm has a market cap of $146.56 billion, a PE ratio of 20.42, a P/E/G ratio of 1.45 and a beta of 0.12. The company’s fifty day simple moving average is $113.50 and its 200 day simple moving average is $114.33. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The business’s revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Capital One Financial decreased their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research note on Monday, June 22nd. UBS Group cut their target price on ConocoPhillips from $155.00 to $143.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.