UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in ConocoPhillips (NYSE:COP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,791,906 shares of the energy producer’s stock after selling 221,607 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.50% of ConocoPhillips worth $574,383,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Albion Financial Group UT raised its stake in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips during the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the fourth quarter worth $27,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips during the fourth quarter worth $32,000. Finally, DiNuzzo Private Wealth Inc. boosted its stake in ConocoPhillips by 310.1% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 365 shares of the energy producer’s stock worth $36,000 after buying an additional 276 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $138.00 to $107.00 in a research note on Tuesday, April 29th. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada cut their price target on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company cut their price target on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. Finally, Barclays cut their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $121.95.

ConocoPhillips Stock Down 0.9%

NYSE:COP opened at $89.63 on Wednesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $121.73. The company has a 50-day moving average of $92.96 and a 200 day moving average of $98.77. The firm has a market cap of $113.31 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the prior year, the firm posted $2.05 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

About ConocoPhillips

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.