Ballew Advisors Inc Reduces Stock Position in ConocoPhillips (NYSE:COP)

Ballew Advisors Inc lessened its stake in shares of ConocoPhillips (NYSE:COP) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,956 shares of the energy producer’s stock after selling 291 shares during the quarter. Ballew Advisors Inc’s holdings in ConocoPhillips were worth $731,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in COP. Tallon Kerry Patrick bought a new position in shares of ConocoPhillips in the 4th quarter worth approximately $511,000. Leavell Investment Management Inc. lifted its stake in shares of ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after purchasing an additional 7,174 shares during the period. Gladstone Institutional Advisory LLC lifted its stake in shares of ConocoPhillips by 5.3% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 32,549 shares of the energy producer’s stock worth $3,228,000 after purchasing an additional 1,633 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of ConocoPhillips by 3.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,624 shares of the energy producer’s stock worth $68,385,000 after purchasing an additional 22,884 shares during the period. Finally, Naples Global Advisors LLC lifted its stake in shares of ConocoPhillips by 11.2% in the 4th quarter. Naples Global Advisors LLC now owns 15,902 shares of the energy producer’s stock worth $1,577,000 after purchasing an additional 1,607 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.4%

Shares of COP opened at $94.70 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The company has a 50 day simple moving average of $88.62 and a two-hundred day simple moving average of $96.02. The firm has a market cap of $119.72 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $15.74 billion. During the same period last year, the firm posted $2.05 earnings per share. On average, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Raymond James reiterated an “outperform” rating and issued a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Morgan Stanley raised their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Mizuho decreased their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. Finally, Bank of America decreased their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.30.

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.