Fiduciary Alliance LLC Sells 1,745 Shares of ConocoPhillips (NYSE:COP)

Fiduciary Alliance LLC cut its holdings in ConocoPhillips (NYSE:COP) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,091 shares of the energy producer’s stock after selling 1,745 shares during the quarter. ConocoPhillips accounts for 3.5% of Fiduciary Alliance LLC’s portfolio, making the stock its 5th biggest holding. Fiduciary Alliance LLC’s holdings in ConocoPhillips were worth $19,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in COP. Dark Forest Capital Management LP purchased a new stake in ConocoPhillips during the 3rd quarter worth $247,000. Bank of Nova Scotia raised its position in shares of ConocoPhillips by 173.6% during the 3rd quarter. Bank of Nova Scotia now owns 274,291 shares of the energy producer’s stock worth $32,860,000 after buying an additional 174,049 shares in the last quarter. Caxton Associates LP bought a new stake in ConocoPhillips in the third quarter worth about $815,000. Richard Bernstein Advisors LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $3,757,000. Finally, First Dallas Securities Inc. grew its position in ConocoPhillips by 168.1% during the 3rd quarter. First Dallas Securities Inc. now owns 10,625 shares of the energy producer’s stock worth $1,273,000 after purchasing an additional 6,662 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COP. Royal Bank of Canada upped their price target on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Thursday. Truist Financial increased their price objective on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Scotiabank lifted their target price on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company raised their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Stock Up 0.4 %

ConocoPhillips stock traded up $0.41 during midday trading on Friday, hitting $114.38. 7,191,846 shares of the company were exchanged, compared to its average volume of 7,011,207. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18. The company’s fifty day moving average price is $118.30 and its 200-day moving average price is $117.58. The company has a market cap of $133.77 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. On average, research analysts predict that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.