Sawtooth Solutions LLC cut its stake in ConocoPhillips (NYSE:COP) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,101 shares of the energy producer’s stock after selling 1,583 shares during the quarter. Sawtooth Solutions LLC’s holdings in ConocoPhillips were worth $1,541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Princeton Portfolio Strategies Group LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter worth about $213,000. Azimuth Capital Management LLC increased its position in shares of ConocoPhillips by 5.9% during the 1st quarter. Azimuth Capital Management LLC now owns 10,078 shares of the energy producer’s stock worth $673,000 after purchasing an additional 560 shares during the last quarter. Evergreen Capital Management LLC increased its position in shares of ConocoPhillips by 14.0% during the 1st quarter. Evergreen Capital Management LLC now owns 10,095 shares of the energy producer’s stock worth $674,000 after purchasing an additional 1,237 shares during the last quarter. Barrett Asset Management LLC increased its position in shares of ConocoPhillips by 23.4% during the 1st quarter. Barrett Asset Management LLC now owns 70,825 shares of the energy producer’s stock worth $4,727,000 after purchasing an additional 13,440 shares during the last quarter. Finally, Markston International LLC increased its position in shares of ConocoPhillips by 7.7% during the 1st quarter. Markston International LLC now owns 80,812 shares of the energy producer’s stock worth $5,394,000 after purchasing an additional 5,780 shares during the last quarter. 72.16% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on COP shares. Morgan Stanley raised their price objective on ConocoPhillips from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Piper Jaffray Companies raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $75.00 in a research report on Thursday, March 21st. ValuEngine downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Thursday, June 6th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Wednesday, March 13th. Finally, Credit Suisse Group downgraded ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price objective for the company. in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.36.

NYSE COP traded down $0.47 during trading on Wednesday, hitting $58.26. The stock had a trading volume of 143,533 shares, compared to its average volume of 6,766,692. The company has a market cap of $66.64 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.43 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 1.72. ConocoPhillips has a twelve month low of $56.75 and a twelve month high of $80.24.

ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.08. The company had revenue of $10.06 billion during the quarter, compared to the consensus estimate of $9.16 billion. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. During the same period in the previous year, the company posted $0.96 EPS. On average, analysts anticipate that ConocoPhillips will post 4.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.93%.

COPYRIGHT VIOLATION NOTICE: “Sawtooth Solutions LLC Sells 1,583 Shares of ConocoPhillips (NYSE:COP)” was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another site, it was illegally stolen and reposted in violation of international trademark & copyright law. The legal version of this report can be read at https://www.dailypolitical.com/2019/06/12/sawtooth-solutions-llc-sells-1583-shares-of-conocophillips-nysecop.html.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Recommended Story: Quiet Period Expirations

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.