MCF Advisors LLC Sells 103 Shares of ConocoPhillips (NYSE:COP)

MCF Advisors LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,581 shares of the energy producer’s stock after selling 103 shares during the quarter. MCF Advisors LLC’s holdings in ConocoPhillips were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on COP shares. Mizuho decreased their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Morgan Stanley boosted their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Royal Bank of Canada raised their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Susquehanna boosted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Finally, StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Stock Performance

NYSE:COP opened at $114.38 on Friday. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The stock has a market cap of $133.77 billion, a P/E ratio of 12.95, a PEG ratio of 2.04 and a beta of 1.22. The business’s 50-day moving average price is $118.30 and its two-hundred day moving average price is $117.58.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. As a group, equities analysts predict that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. ConocoPhillips’s dividend payout ratio is 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.