Steel Grove Capital Advisors LLC Has $336,000 Stock Holdings in ConocoPhillips (NYSE:COP)

Steel Grove Capital Advisors LLC trimmed its position in ConocoPhillips (NYSE:COP) by 29.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,390 shares of the energy producer’s stock after selling 1,420 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in ConocoPhillips were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orrstown Financial Services Inc. grew its holdings in ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after acquiring an additional 96 shares in the last quarter. Principle Wealth Partners LLC boosted its stake in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after purchasing an additional 100 shares in the last quarter. Arlington Trust Co LLC increased its holdings in ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after buying an additional 102 shares during the period. Courier Capital LLC raised its stake in ConocoPhillips by 0.5% in the fourth quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock worth $2,031,000 after buying an additional 103 shares in the last quarter. Finally, Gray Wealth Management Inc. lifted its holdings in ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after buying an additional 104 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE:COP opened at $89.81 on Wednesday. The company’s 50-day moving average is $94.89 and its two-hundred day moving average is $101.03. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $130.77. 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 firm has a market capitalization of $113.53 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.79 and a beta of 0.83.

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

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.47%. ConocoPhillips’s payout ratio is presently 40.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. UBS Group reduced their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.68.

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.