LongView Wealth Management Sells 120 Shares of ConocoPhillips (NYSE:COP)

LongView Wealth Management trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,324 shares of the energy producer’s stock after selling 120 shares during the quarter. LongView Wealth Management’s holdings in ConocoPhillips were worth $423,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Massachusetts Financial Services Co. MA increased its holdings in ConocoPhillips by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock worth $3,211,901,000 after acquiring an additional 108,956 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 worth $2,752,325,000 after purchasing an additional 4,726,952 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of ConocoPhillips by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after purchasing an additional 270,859 shares during the period. Ameriprise Financial Inc. grew its position in shares of ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock valued at $968,410,000 after purchasing an additional 659,632 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of ConocoPhillips by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock worth $861,930,000 after purchasing an additional 204,714 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COP has been the topic of several recent research reports. Raymond James restated a “strong-buy” rating and set a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Morgan Stanley raised their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Royal Bank of Canada boosted their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Mizuho dropped their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Four investment 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Price Performance

Shares of NYSE:COP traded up $0.41 on Friday, reaching $114.38. 7,191,744 shares of the company were exchanged, compared to its average volume of 5,700,099. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $118.30 and a 200-day moving average of $117.53. ConocoPhillips has a 1-year low of $99.35 and a 1-year high of $135.18. The firm has a market cap of $133.77 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 2.02 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. Equities analysts forecast that ConocoPhillips will post 8.89 earnings per share 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 paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

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.