Cullen Capital Management LLC Decreases Stake in ConocoPhillips (NYSE:COP)

Cullen Capital Management LLC reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,268,684 shares of the energy producer's stock after selling 11,503 shares during the period. Cullen Capital Management LLC owned 0.11% of ConocoPhillips worth $125,815,000 as of its most recent SEC filing.

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

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Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COP. UBS Group lowered their price target on shares of ConocoPhillips from $130.00 to $116.00 and set a "buy" rating on the stock in a research note on Monday. Barclays cut their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Mizuho raised shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 price objective on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $131.84.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $0.56 during midday trading on Monday, reaching $85.74. The stock had a trading volume of 12,868,881 shares, compared to its average volume of 6,909,671. The firm has a market capitalization of $108.38 billion, a PE ratio of 11.01, a P/E/G ratio of 0.79 and a beta of 0.83. The firm's 50-day moving average price is $98.53 and its 200 day moving average price is $103.06. ConocoPhillips has a 12 month low of $81.34 and a 12 month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating 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%. As a group, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.64%. ConocoPhillips's payout ratio is 40.05%.

ConocoPhillips 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.