Atlas Capital Advisors LLC Reduces Stock Position in ConocoPhillips (NYSE:COP)

Atlas Capital Advisors LLC cut its stake in ConocoPhillips (NYSE:COP) by 10.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 828 shares of the energy producer’s stock after selling 98 shares during the period. Atlas Capital Advisors LLC’s holdings in ConocoPhillips were worth $105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in COP. Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 24.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after purchasing an additional 4,726,952 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in ConocoPhillips by 512.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after acquiring an additional 3,127,165 shares during the period. Alphinity Investment Management Pty Ltd grew its position in ConocoPhillips by 78.2% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock worth $535,287,000 after acquiring an additional 2,023,263 shares during the period. International Assets Investment Management LLC grew its position in ConocoPhillips by 13,905.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock worth $129,332,000 after acquiring an additional 1,106,305 shares during the period. Finally, Pacer Advisors Inc. grew its position in ConocoPhillips by 29.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,422,834 shares of the energy producer’s stock worth $397,288,000 after acquiring an additional 776,107 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE COP opened at $113.58 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $99.35 and a 52-week high of $135.18. The business’s 50-day moving average price is $119.17 and its 200 day moving average price is $117.57. The firm has a market cap of $132.84 billion, a P/E ratio of 12.86, a P/E/G ratio of 2.05 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (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 firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. On average, equities research analysts expect that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. Morgan Stanley increased their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Susquehanna upped their price target on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Raymond James restated a “strong-buy” rating and set a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. 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 research note on Wednesday, May 15th. Finally, StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Four equities 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 company. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Company 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.