Lazard Asset Management LLC Reduces Stock Holdings in ConocoPhillips (NYSE:COP)

Lazard Asset Management LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 19.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,283,828 shares of the energy producer’s stock after selling 1,310,196 shares during the quarter. Lazard Asset Management LLC owned 0.46% of ConocoPhillips worth $523,995,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COP. Albion Financial Group UT boosted its holdings in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $27,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $32,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $88.58 on Monday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $122.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $111.98 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The business’s fifty day moving average price is $93.08 and its 200 day moving average price is $99.37.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, sell-side analysts anticipate 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 will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.52%. ConocoPhillips’s payout ratio is 39.64%.

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. Scotiabank cut their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. UBS Group lowered their price objective on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Royal Bank of Canada decreased their price target on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Bank of America cut ConocoPhillips from a “buy” rating to a “neutral” rating and dropped their target price for the company from $138.00 to $107.00 in a report on Tuesday, April 29th. Finally, Morgan Stanley boosted their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $124.89.

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.