Capital Asset Advisory Services LLC Takes $229,000 Position in ConocoPhillips (NYSE:COP)

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Capital Asset Advisory Services LLC acquired a new stake in ConocoPhillips (NYSE:COP) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 3,857 shares of the energy producer’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of COP. Geode Capital Management LLC increased its stake in ConocoPhillips by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 12,943,419 shares of the energy producer’s stock valued at $709,009,000 after buying an additional 192,419 shares during the last quarter. Boston Partners increased its stake in shares of ConocoPhillips by 0.4% during the 1st quarter. Boston Partners now owns 8,213,737 shares of the energy producer’s stock worth $486,992,000 after purchasing an additional 29,133 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of ConocoPhillips by 0.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,473,796 shares of the energy producer’s stock worth $383,832,000 after purchasing an additional 60,121 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of ConocoPhillips by 35.7% during the 4th quarter. Lazard Asset Management LLC now owns 5,665,128 shares of the energy producer’s stock worth $310,957,000 after purchasing an additional 1,490,618 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of ConocoPhillips by 35.2% during the 1st quarter. Prudential Financial Inc. now owns 4,926,665 shares of the energy producer’s stock worth $292,101,000 after purchasing an additional 1,282,558 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of ConocoPhillips in a research note on Friday, June 8th. They set a “neutral” rating and a $73.00 price objective on the stock. Sanford C. Bernstein upgraded shares of ConocoPhillips from a “market perform” rating to an “outperform” rating and set a $82.00 price objective on the stock in a research note on Friday, June 8th. BMO Capital Markets started coverage on shares of ConocoPhillips in a research note on Monday, June 11th. They set an “outperform” rating and a $78.00 price objective on the stock. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Wednesday, June 13th. Finally, TheStreet raised shares of ConocoPhillips from a “c+” rating to a “b-” rating in a report on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $66.90.

In related news, VP Glenda Mae Schwarz sold 6,763 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $65.04, for a total transaction of $439,865.52. Following the completion of the transaction, the vice president now directly owns 10,182 shares in the company, valued at approximately $662,237.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Janet Langford Kelly sold 64,184 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $70.00, for a total transaction of $4,492,880.00. Following the transaction, the senior vice president now owns 105,395 shares of the company’s stock, valued at $7,377,650. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 284,052 shares of company stock valued at $19,491,534. 0.88% of the stock is currently owned by insiders.

Shares of ConocoPhillips opened at $69.62 on Friday, MarketBeat reports. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $71.71. The company has a quick ratio of 1.71, a current ratio of 1.86 and a debt-to-equity ratio of 0.54. The company has a market cap of $80.04 billion, a PE ratio of 116.03, a PEG ratio of 1.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 26th. The energy producer reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.22. ConocoPhillips had a negative net margin of 1.64% and a positive return on equity of 6.69%. The company had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.68 billion. During the same quarter in the prior year, the firm posted ($0.02) EPS. research analysts forecast that ConocoPhillips will post 4.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Monday, May 14th were issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Friday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 190.00%.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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