Citizens Financial Group Inc. RI Has $13.41 Million Holdings in ConocoPhillips $COP

Citizens Financial Group Inc. RI trimmed its position in shares of ConocoPhillips (NYSE:COP) by 26.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 128,981 shares of the energy producer’s stock after selling 46,408 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in ConocoPhillips were worth $13,409,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $25,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC grew its position in ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after acquiring an additional 145 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in ConocoPhillips during the 2nd quarter valued at $32,000. Finally, BNP Paribas acquired a new stake in ConocoPhillips during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of recent analyst reports. BMO Capital Markets reduced their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Susquehanna lifted their price target on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Scotiabank upped their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Mizuho lowered their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.48.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $129.82 on Wednesday. The business’s 50-day simple moving average is $114.31 and its 200 day simple moving average is $117.12. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The stock has a market cap of $155.96 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.40 and a beta of 0.11. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same period in the previous year, the business posted $1.42 EPS. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. As a group, research analysts anticipate that ConocoPhillips will post 10.05 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. ConocoPhillips’s payout ratio is currently 44.44%.

About ConocoPhillips

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.