Unigestion Holding SA Sells 39,521 Shares of ConocoPhillips (NYSE:COP)

Unigestion Holding SA lowered its position in shares of ConocoPhillips (NYSE:COP) by 17.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 185,786 shares of the energy producer’s stock after selling 39,521 shares during the quarter. Unigestion Holding SA’s holdings in ConocoPhillips were worth $18,423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Albion Financial Group UT increased its position 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 buying an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips during the fourth quarter worth about $32,000. Finally, Global Wealth Strategies & Associates raised its stake in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of analyst reports. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research report on Thursday, January 30th. Barclays reduced their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Truist Financial lifted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. cut their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, UBS Group decreased their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.95.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $86.18 on Friday. ConocoPhillips has a one year low of $85.55 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market cap of $108.95 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.79 and a beta of 0.83. The firm has a 50 day simple moving average of $98.53 and a 200 day simple moving average of $103.10.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.62%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

ConocoPhillips Company Profile

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.