Edgar Lomax Co. VA Sells 3,900 Shares of ConocoPhillips (NYSE:COP)

Edgar Lomax Co. VA cut its holdings in ConocoPhillips (NYSE:COP - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,470 shares of the energy producer's stock after selling 3,900 shares during the period. Edgar Lomax Co. VA's holdings in ConocoPhillips were worth $16,806,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of COP. Tidal Investments LLC grew its holdings in ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer's stock valued at $10,902,000 after purchasing an additional 31,011 shares during the period. Leavell Investment Management Inc. grew its stake in ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock valued at $1,901,000 after buying an additional 7,174 shares in the last quarter. Brookstone Capital Management grew its position in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock valued at $878,000 after purchasing an additional 383 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of ConocoPhillips by 2.3% in the third quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer's stock worth $155,211,000 after buying an additional 32,948 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its holdings in ConocoPhillips by 13.6% in the 4th quarter. Fiduciary Alliance LLC now owns 186,535 shares of the energy producer's stock valued at $18,499,000 after purchasing an additional 22,378 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

NYSE:COP traded up $0.87 during trading hours on Wednesday, hitting $90.63. 4,331,650 shares of the stock traded hands, compared to its average volume of 7,112,947. The company has a market cap of $114.57 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $130.77. The stock has a 50 day moving average price of $94.89 and a 200 day moving average price of $101.03. 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 issued its quarterly earnings results 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%. Sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued 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 yield of 3.44%. ConocoPhillips's dividend payout ratio is currently 40.05%.

Analyst Ratings Changes

A number of equities analysts have commented on COP shares. Scotiabank cut their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company reduced their price objective on ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada dropped their price target on shares of ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Susquehanna set a $136.00 target price on shares of ConocoPhillips in a report on Tuesday. Finally, TD Cowen began coverage on ConocoPhillips in a research note on Friday, January 17th. They set a "buy" rating and a $125.00 target price on the stock. Two investment 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. Based on data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and a consensus price target of $127.68.

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.