Sit Investment Associates Inc. Has $22.92 Million Stock Holdings in ConocoPhillips (NYSE:COP)

by · The Cerbat Gem

Sit Investment Associates Inc. lowered its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 2.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 231,159 shares of the energy producer’s stock after selling 6,795 shares during the period. Sit Investment Associates Inc.’s holdings in ConocoPhillips were worth $22,924,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of COP. Albion Financial Group UT lifted its holdings in shares of ConocoPhillips by 876.9% in the fourth 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 last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new position in ConocoPhillips during the 4th quarter worth approximately $27,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips in the 4th quarter valued at $32,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 9.5 %

Shares of COP stock opened at $86.18 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $108.95 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The business has a 50-day moving average price of $98.53 and a two-hundred day moving average price of $103.14. ConocoPhillips has a 12-month low of $85.55 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its 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 return on equity of 17.26% and a net margin of 16.23%. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on COP shares. UBS Group lowered their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Barclays lowered their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Finally, TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.95.

View Our Latest Stock Analysis on ConocoPhillips

About ConocoPhillips

(Free Report)

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.

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