Lifestyle Asset Management Inc. Trims Position in ConocoPhillips (NYSE:COP)

Lifestyle Asset Management Inc. trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 7.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,350 shares of the energy producer’s stock after selling 646 shares during the period. Lifestyle Asset Management Inc.’s holdings in ConocoPhillips were worth $1,063,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of COP. Massachusetts Financial Services Co. MA grew its stake in shares of 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 buying an additional 108,956 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 24.9% in the 4th 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 buying an additional 4,726,952 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ConocoPhillips by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after buying an additional 270,859 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of ConocoPhillips by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of ConocoPhillips by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock worth $861,930,000 after buying an additional 204,714 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 0.6 %

Shares of NYSE:COP traded up $0.65 during trading hours on Wednesday, hitting $114.77. The company’s stock had a trading volume of 2,326,037 shares, compared to its average volume of 5,644,886. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market capitalization of $134.23 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 2.04 and a beta of 1.24. The firm’s fifty day moving average price is $117.68 and its 200 day moving average price is $117.61.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $14.72 billion. As a group, research analysts expect that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is currently 26.27%.

Analysts Set New Price Targets

A number of brokerages have commented on COP. StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Barclays raised their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Susquehanna raised their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Finally, Truist Financial raised their target price on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $144.18.

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.