Paces Ferry Wealth Advisors LLC Sells 204 Shares of ConocoPhillips (NYSE:COP)

Paces Ferry Wealth Advisors LLC lowered its holdings in ConocoPhillips (NYSE:COP) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,414 shares of the energy producer’s stock after selling 204 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in ConocoPhillips were worth $339,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its position in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the period. Wellington Management Group LLP grew its holdings in shares of ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after purchasing an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after purchasing an additional 4,656,040 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in ConocoPhillips in the fourth quarter valued at about $232,859,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of several recent analyst reports. UBS Group dropped their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. Barclays reduced their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, TD Cowen initiated coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.05.

ConocoPhillips Stock Down 0.3 %

NYSE:COP opened at $102.05 on Friday. The stock’s fifty day simple moving average is $99.21 and its 200-day simple moving average is $103.40. The firm has a market capitalization of $129.84 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.06%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.