Citizens Financial Group Inc RI Sells 7,950 Shares of ConocoPhillips (NYSE:COP)

Citizens Financial Group Inc RI decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 3.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 212,362 shares of the energy producer’s stock after selling 7,950 shares during the period. ConocoPhillips makes up 0.9% of Citizens Financial Group Inc RI’s holdings, making the stock its 27th largest position. Citizens Financial Group Inc RI’s holdings in ConocoPhillips were worth $13,811,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of COP. Haverford Trust Co. boosted its stake in ConocoPhillips by 0.4% in the 3rd quarter. Haverford Trust Co. now owns 44,783 shares of the energy producer’s stock worth $2,552,000 after purchasing an additional 175 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its stake in ConocoPhillips by 5.0% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,710 shares of the energy producer’s stock worth $241,000 after purchasing an additional 175 shares during the period. Stevens Capital Management LP boosted its stake in ConocoPhillips by 1.3% in the 4th quarter. Stevens Capital Management LP now owns 13,311 shares of the energy producer’s stock worth $866,000 after purchasing an additional 176 shares during the period. Beacon Investment Advisory Services Inc. boosted its stake in ConocoPhillips by 2.6% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 7,078 shares of the energy producer’s stock worth $460,000 after purchasing an additional 178 shares during the period. Finally, AllSquare Wealth Management LLC boosted its stake in ConocoPhillips by 32.7% in the 3rd quarter. AllSquare Wealth Management LLC now owns 742 shares of the energy producer’s stock worth $42,000 after purchasing an additional 183 shares during the period. Institutional investors own 72.12% of the company’s stock.

Shares of COP stock opened at $58.30 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.26 and a current ratio of 2.40. The firm’s 50-day moving average is $62.29 and its 200-day moving average is $58.56. The stock has a market cap of $64.32 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 2.95 and a beta of 1.11. ConocoPhillips has a 52-week low of $50.13 and a 52-week high of $71.01.

ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, February 4th. The energy producer reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.05). The firm had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $7.83 billion. ConocoPhillips had a net margin of 19.60% and a return on equity of 11.84%. During the same period in the previous year, the company posted $1.13 earnings per share. Sell-side analysts predict that ConocoPhillips will post 3.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 14th will be issued a $0.42 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.88%. ConocoPhillips’s payout ratio is 46.80%.

ConocoPhillips announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 4th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the energy producer to purchase up to 15.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

A number of brokerages recently weighed in on COP. Robert W. Baird began coverage on shares of ConocoPhillips in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $72.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of ConocoPhillips from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. UBS Group boosted their price target on shares of ConocoPhillips from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Wells Fargo & Co reissued a “buy” rating on shares of ConocoPhillips in a research report on Tuesday, November 19th. Finally, Scotiabank cut shares of ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and set a $74.00 price target on the stock. in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.38.

In other news, President William L. Jr. Bullock sold 25,628 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $63.17, for a total value of $1,618,920.76. Following the sale, the president now directly owns 32,926 shares of the company’s stock, valued at approximately $2,079,935.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Ellen Desanctis sold 41,882 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $58.55, for a total transaction of $2,452,191.10. Following the completion of the sale, the senior vice president now directly owns 32,902 shares in the company, valued at $1,926,412.10. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

ConocoPhillips Profile

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.

Further Reading: What is a capital gain?

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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