Rehmann Capital Advisory Group Cuts Stake in ConocoPhillips (NYSE:COP)

Rehmann Capital Advisory Group reduced its stake in shares of ConocoPhillips (NYSE:COP) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,729 shares of the energy producer’s stock after selling 250 shares during the quarter. Rehmann Capital Advisory Group’s holdings in ConocoPhillips were worth $729,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valued Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its holdings in ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after buying an additional 85 shares in the last quarter. Adirondack Trust Co. boosted its position in ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after buying an additional 90 shares during the last quarter. Mayfair Advisory Group LLC grew its stake in shares of ConocoPhillips by 3.5% during the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after acquiring an additional 90 shares in the last quarter. Finally, Smith Anglin Financial LLC increased its position in shares of ConocoPhillips by 3.8% during the first quarter. Smith Anglin Financial LLC now owns 2,505 shares of the energy producer’s stock worth $319,000 after acquiring an additional 91 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent analyst reports. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Wells Fargo & Company boosted their price objective on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Morgan Stanley raised their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Bank of America reaffirmed a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Finally, Raymond James reissued a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.69.

ConocoPhillips Stock Performance

COP stock traded up $0.75 during trading hours on Wednesday, reaching $111.94. The stock had a trading volume of 2,348,138 shares, compared to its average volume of 5,580,901. The stock has a market capitalization of $130.92 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.00 and a beta of 1.23. The stock has a 50-day simple moving average of $116.08 and a 200 day simple moving average of $117.49. ConocoPhillips has a fifty-two week low of $104.85 and a fifty-two 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.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 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 business had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. Analysts predict that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

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.