Bryn Mawr Trust Advisors LLC Reduces Stake in ConocoPhillips $COP

by · The Markets Daily

Bryn Mawr Trust Advisors LLC reduced its holdings in ConocoPhillips (NYSE:COP – Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,773 shares of the energy producer’s stock after selling 7,985 shares during the quarter. Bryn Mawr Trust Advisors LLC’s holdings in ConocoPhillips were worth $15,282,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in COP. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips in the fourth quarter worth $25,000. Strive Asset Management LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at $28,000. Board of the Pension Protection Fund purchased a new position in ConocoPhillips during the 4th quarter valued at $28,000. KERR FINANCIAL PLANNING Corp bought a new position in ConocoPhillips in the 3rd quarter worth $28,000. Finally, Whipplewood Advisors LLC raised its holdings in ConocoPhillips by 216.7% in the 1st quarter. Whipplewood Advisors LLC now owns 323 shares of the energy producer’s stock worth $43,000 after purchasing an additional 221 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 3.4%

NYSE COP opened at $112.75 on Tuesday. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The stock has a market cap of $137.36 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.31 and a beta of 0.12. The stock’s fifty day moving average price is $113.88 and its 200-day moving average price is $112.93. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP – Get Free Report) last posted 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 firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. As a group, equities analysts forecast that ConocoPhillips will post 9.28 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on COP. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Freedom Capital cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Morgan Stanley decreased their price target on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Capital One Financial lowered their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $134.04.

View Our Latest Stock Report on COP

About ConocoPhillips

(Free Report)

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.

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