Hilltop Holdings Inc. Sells 5,632 Shares of ConocoPhillips $COP

Hilltop Holdings Inc. cut its holdings in ConocoPhillips (NYSE:COP) by 32.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,687 shares of the energy producer’s stock after selling 5,632 shares during the quarter. Hilltop Holdings Inc.’s holdings in ConocoPhillips were worth $1,543,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $25,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC boosted its stake in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. BNP Paribas bought a new position in shares of ConocoPhillips during the second quarter valued at approximately $33,000. Finally, Optima Capital LLC purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $34,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 0.1%

NYSE:COP opened at $120.30 on Friday. The stock has a market capitalization of $146.56 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.45 and a beta of 0.12. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $113.50 and a 200 day moving average of $114.23.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.09 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on COP shares. Argus boosted their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. The Goldman Sachs Group dropped their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Jefferies Financial Group lifted their price target on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Capital One Financial reduced their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Finally, Susquehanna upped their price objective on ConocoPhillips from $152.00 to $155.00 and gave the stock a “positive” rating in a research note on Tuesday. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.