Lazard Asset Management LLC Has $191.30 Million Stock Position in ConocoPhillips $COP

Lazard Asset Management LLC lowered its stake in ConocoPhillips (NYSE:COP) by 8.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,449,245 shares of the energy producer’s stock after selling 130,256 shares during the period. Lazard Asset Management LLC owned approximately 0.12% of ConocoPhillips worth $191,300,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AXA S.A. raised its position in ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after purchasing an additional 40,499 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of ConocoPhillips by 6.1% in the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after purchasing an additional 44,852 shares in the last quarter. BNP Paribas bought a new position in shares of ConocoPhillips in the 2nd quarter valued at $33,000. Osterweis Capital Management Inc. bought a new position in shares of ConocoPhillips in the 2nd quarter valued at $151,000. Finally, Main Street Financial Solutions LLC raised its holdings in shares of ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after buying an additional 1,675 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $120.30 on Monday. 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 stock has a market cap of $146.56 billion, a PE ratio of 20.42, a PEG ratio of 1.45 and a beta of 0.12. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The business has a 50-day simple moving average of $113.50 and a two-hundred day simple moving average of $114.33.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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 return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the firm posted $2.09 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. 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 given a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.8%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Scotiabank boosted their target price on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Barclays increased their target price on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Raymond James Financial reduced their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Finally, Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Eighteen equities 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

About ConocoPhillips

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.