Hudson Edge Investment Partners Inc. Sells 16,204 Shares of ConocoPhillips $COP

Hudson Edge Investment Partners Inc. lessened its position in ConocoPhillips (NYSE:COP) by 19.9% during the first quarter, Holdings Channel reports. The institutional investor owned 65,408 shares of the energy producer’s stock after selling 16,204 shares during the quarter. ConocoPhillips makes up approximately 1.3% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 10th largest position. Hudson Edge Investment Partners Inc.’s holdings in ConocoPhillips were worth $8,634,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Patten Group Inc. grew its holdings in ConocoPhillips by 1.5% during the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after acquiring an additional 83 shares during the period. Blue Trust Inc. raised its position in ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after acquiring an additional 92 shares in the last quarter. Nicolet Advisory Services LLC lifted its holdings in ConocoPhillips by 0.9% in the 4th quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock valued at $989,000 after acquiring an additional 95 shares during the last quarter. Duncan Williams Asset Management LLC lifted its holdings in ConocoPhillips by 4.4% in the 4th quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock valued at $222,000 after acquiring an additional 100 shares during the last quarter. Finally, Reliant Investment Management LLC boosted its position in shares of ConocoPhillips by 2.8% during the 1st quarter. Reliant Investment Management LLC now owns 3,646 shares of the energy producer’s stock valued at $481,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.1%

Shares of COP opened at $104.64 on Friday. The business’s 50-day moving average price is $115.76 and its 200 day moving average price is $112.13. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $127.48 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.20 and a beta of 0.12. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis. Analysts expect that ConocoPhillips will post 9.66 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips’s payout ratio is currently 57.05%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on COP. Capital One Financial lowered their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Roth Mkm upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Scotiabank lifted their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Raymond James Financial decreased their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Finally, Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $134.76.

ConocoPhillips Company 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.